<ul><li>The principle of 'Stick to the knitting' is about focusing on what a business already does well, rather than chasing unrelated opportunities.</li><li>Companies that deviate from their core often face negative consequences and lose strategic synergy.</li><li>Failed conglomerates of the past expanded into unrelated sectors without any strategic alignment.</li><li>Successful turnarounds, like Starbucks, involve re-focusing on core strengths to achieve excellence.</li></ul>

Must Know Strategy Tools: Tool 9 Stick to the knitting “Eight principles of corporate excellence”

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