Seven Ways To Fail Big
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"Not Everyone Can Be GE"
Pseudo-adjacencies are new products or new markets that are not as similar to a company's existing businesses as they appear. A conglomerate like General Electric under former chief executive Jack Welch might be able to make the jump, but not every company can figure it out. Oglebay Norton, a 143-year-old Cleveland steel provider tried to diversify into a limestone business that left it bankrupt and $440 million in debt after six years.
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