I. Overview

II. Expanding Beyond a Single Industry

1. A Company as a Portfolio of Distinctive Competencies
   1. Fill-in-the-Blanks
   2. Premier Plus 10
   3. White Spaces
   4. Mega-Opportunities
2. The Multibusiness Model

III. Increasing Profitability Through Diversification

1. Transferring Competencies
2. Leveraging Competencies
3. Sharing Resources: Economies of Scope
4. Managing Rivalry: Multipoint Competition
5. Exploiting General Organizational Competencies
   1. Entrepreneurial Capabilities
   2. Effective Organization Structure and Controls
   3. Superior Strategic Capabilities

IV. Types of Diversification

V. The Limits of Diversification

1. Bureaucratic Costs and Diversification Strategy
   1. Number of Businesses
   2. Coordination Among Businesses
   3. Limits of Diversification
   4. Related or Unrelated Diversification?
2. Diversification That Dissipates Value

VI. Entry Strategy: Internal New Ventures

1. The Attractions of Internal New Venturing
2. Pitfalls of New Ventures
   1. Scale of Entry
   2. Commercialization
   3. Poor Implementation
3. Guidelines for Successful Internal New Venturing

VII. Entry Strategy: Acquisitions

1. Attractions of Acquisitions
2. Acquisition Pitfalls
   1. Post-Acquisition Integration
   2. Overestimating Economic Benefits
   3. The Expense of Acquisitions
   4. Inadequate Preacquisition Screening
3. Guidelines for Successful Acquisition
   1. Identification and Screening
   2. Bidding Strategy
   3. Integration
   4. Learning from Experience

VIII. Entry Strategy: Joint Ventures

IX. Restructuring

1. Why Restructure?
2. Exit Strategies
   1. Divestment
   2. Harvest and Liquidation