In the 70s and 80s, conglomerates were the in thing. Harold Geneen and Jack Welch excelled in this by the sheer power of their intellect energy and passion. The thing is when they were gone, the conglomerates fells by the wayside and collapsed.
These though still followed Welch to be number 1 or No 2 in their market. Niching was very important.
ITT spun off? What ever remained of it? How about GE of Welch
The winners are Apple Microsoft, JP Morgan
Only focused business grew and even then it was not enough. Some are still collapsing as in food business.
San Miguel would still be a big conglomerate: food, beverage, alcohol, infrastructure. energy
Summit: publication, real estate, airlines, food production, petrochem, power gen
LT - airlines, real estate, tobacco, liquor
Ayala - banking real estate, water (divested) electronics and telecon
Lopez - broadcasting, energy (divested from DUI)
MVP - only in telecoms and infrastructure
Conglomerates can only succeed if they have excellent CEO
Berkshire (W. Buffet) succeeded because he focused on stock picking and studying companies. He did not run companies. He let their managers do their thing
Toyota focusses on ICE cars. and quality. No 1 in car manufacturing for several years.
