The Grass Isn't Greener
分析了2000年代数千家公司的股东价值表现，发现没有哪个行业长期显著优于其他行业，行业内部差异更大，建议企业专注主业。
The article looks at business strategy as of 2012, focusing on the decision many companies face over whether to invest in improving their performance in their primary industry or whether to shift into or add a different line of business, often through acquisitions. It presents a numerical analysis of the performance in terms of shareholder value of thousands of corporations in numerous industries in the 2000s. The authors summarize their results, saying that no industry significantly outperforms other industries over time and that the variation in performance within industries is far greater. They suggest businesses should remain focused on their primary industry. Companies discussed include toy company Mattel and off-road vehicle company Polaris.