The Hedgehog Concept: A Path to Greatness

The hedgehog concept serves as a pivotal strategy for companies striving to achieve extraordinary success. To identify their unique focus, businesses must ask themselves three essential questions: what can they be the best at, what are they passionate about, and what drives their economic engine. This clarity of purpose enables companies to make informed strategic decisions aligned with their overarching goals. An example is Walgreens, which honed in on customer convenience and profitability per visit, leading to remarkable growth, while Eckerd Pharmacy, lacking such a focused approach, faced decline.