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A lesson for all business

January 14, 2018

In the over thirty years of it’s existence DMI remade itself several times leading to the diversity of it’s skill set. For many years DMI's diverse skill set was a considerable strength in solving customers problems. The downturn at the end of 2008, found the company and it's customers struggling to make ends meet. It became apparent that like it had so many times in thirty years the company needed to reinvent itself. The problem it discovered was DMI's diversity had become a weakness in deciding on which of its skills to focus on with which to move forward.

 

A company must maintain a core competency, a niche if you will that drives it. This applies to large and small companies. Many companies have failed by broadly diversifying outside the product or service that made the successful.

 

 

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