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If you've read Good to Great, you'll know that the Hedgehog Concept comes from the Greek story of The Fox and the Hedgehog, whereby the fox keeps trying crafty and ingeneous ways to eat the hedgehog and continously fails because the hedgehog always rolls into a ball at the crucial moment.
In business, the Hedgehog Concept encapsulates the idea that great companies tend to focus on the one thing they can become the best at and do it well, much better than their rivals, who are often too busy chasing the latest shiny thing instead of focusing on what they excel at.
There's a lot to be said for the Hedgehog Concept. While it's important to retain an amount of awareness of the external market, focusing too much on the external market and new fads dilutes attention from your company's real job at hand.
Figuring out what your Hedgehog Concept is not an easy process but Evolution Consulting is here to guide and assist you in designing the right approach for you to uncover and articulate your Hedgehog Concept and design your implementation plan.
Click here to contact us today to start planning your Hedgehog Concept programme.
Examples of Hedgehog Concepts:
Walgreen - the best, most convenient drugstores, with high profit per customer visit.
Wells Fargo - running a bank like a business, with a focus on Western United States.
GE - develop first-rate general managers.
What the Hedgehog Concept Is and Isn't:
The Hedgehog Concept is not a goal, strategy, intention or plan to be the best.
It is having a clear understanding and appreciation of what you can be the best at. It provides a frame of reference to strategy decision making.