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Creating unique value is the essence of business strategy

Baby goods maker Pigeon and factory supplier Misumi have cracked the code

Shigeru Yamashita, President of Pigeon

TOKYO -- Managers often talk about business strategy, but the term is somewhat mysterious.

Companies set sales and profit targets in their midterm business plans, but these are not strategy. Many tend to rely on organizational reforms to help them achieve their goals, but these are just means to an end. They are not strategy, either.

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