Yesterday I attended the UTS EMBA & MB Reunion 2000 – 2010 (I graduated in 2005), where the keynote address was given by Phil Ruthven, the founder and chairman of IBISWORLD, an industry intelligence company. What an interesting and amusing fellow! I don’t think I’ve ever seen a presentation jam packed with so many insights, that was also so interesting. I just wanted to share one slide from the presentation, and that was the slide that dealt with IBIS’s analysis of what the most successful business are doing. Interestingly, as much as this is based on research, it’s also intuitively true.

1. They focus on single industries, not diversify

2. They position as a major, niche or ultra-niche for dominance

3. They pursue unique intellectual property (directly or as a franchisee).

4. They outsource non-core activities

5. They jettison passive (“hard”) assets

6. They have prudent and expansionary financial management

7. They plan from the outside-in not the inside-out

8. They are industry lifecycle responsive

9. They emulate world best practice (and globalise if possible)

10. They develop strategic alliances.

11. They develop unique organisational cultures.

12. They lead first and manage second.