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Living on the Fault Line, Revised Edition: Managing for Shareholder Value in Any Economy Hardcover – August 20, 2002
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About the Author
Geoffrey A. Moore is the author of Escape Velocity, Inside the Tornado, and Living on the Fault Line.
Top Customer Reviews
This revised version has the expected mea culpa in the Preface, deletes and replaces chapter 1 of the previous addition, and focuses on what is really valuable in Moore's work. The new chapter 1 highlights Moore's GAP-CAP distinction. GAP (Competitive-Advantage Gap) is what shows up in the numbers, differential success in the here-and-now marketplace. CAP (Competitive-Advantage Period) is a more subtle concept, referring to the ability of a company to sustain its advantages against competitors over time. It underpins future competitive advantage. The combination of a company's GAP and CAP is the real driver of its share price (discounted future earnings), and therefore of shareholder value. Moore write persuasively and in some detail about how this all works.
Chapter 2 explores the second important idea, the CORE-CONTEXT distinction. Here Core is defined as those activities which are central to the company's marketplace differentiation: effective action here directly impacts the share price. Context activities are those which need to be done, and done well, but which the market gives you little credit for. Administrative HR, for example, in companies which are not HR specialists. Moore argues that these are candidates for outsourcing to companies for whom they ARE core competencies. Again Moore elaborates on these basic distinctions.
Subsequent chapters explain the "Competitive Advantage Grid", which is new in this version.Read more ›
With change increasing exponentially, we are living in an environment where understanding and dealing with change is increasingly difficult. While Moore's approach towards competition is traditional, he does provide tools for understanding the apparent chaos in today's environment.
While many of these items are similar to the earlier edition, this revised edition is as this one goes beyond the internet bubble to address the concerns in any tough economy where the investor perspective becomes increasingly demanding and dominant.
Moore explains that the business in the 21st century is changing requiring investment to incorporate the enabling technology that is becoming increasingly widespread and significant as well as the specialization of work that is becoming necessary to succeed. He also addresses the need for companies to focus on their "core" business functions and take care of the context in other ways, e.g. use of services, outsourcing, and so on.
While Moore has primarily concerned himself with the technology sector, his insights in this book have relevance for all sectors and it remains a classic for helping clarify business strategy and direction.