In 1960, Harvard professor Theodore Levitt published a landmark paper in Harvard Business Review that urged executives to ask, “What business are you really in?” Even today, a half century later, his challenge still resonates.
By pointing out that no industry grows forever, he gave rise to many concepts we still recognize, such as the customer centered business, Porter’s 5 Forces and value chains. Many executives who seek to be modern are often merely repeating Levitt’s insights.
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