- Define the core of your business – reach consensus on the core
- Assess the core’s full potential and the durability of its key differentiation
- Develop a point of view about the future, and define the status quo
- Identify the full range of options for redefining the core from the inside and from the outside
- Identify your hidden assets, and ask whether they create new options or enable others
- Use key criteria (leadership, profit pool, repeatability, chances of implementation) in deciding which assets to employ in redefining your core
- Set up a program office to help initate, track and manage course corrections