What are crown jewels?
The term "crown jewels" typically refers to a company's most valuable and strategically important assets, which are critical to its success and competitive advantage. These assets can vary depending on the nature of the business, but generally include:
- Intellectual property: This can include patents, trademarks, copyrights, and trade secrets that are unique to the company and give it a competitive advantage in the market.
- Customer base: A loyal and growing customer base can be a valuable asset, as it provides a source of ongoing revenue and can be used for further growth and expansion.
- Talent: Highly skilled and experienced employees, especially those in key leadership positions, are crucial to a company's success and competitive advantage.
- Data and technology: Access to valuable data, as well as proprietary technology and systems, is a significant competitive advantage in many industries.
- Brand reputation: A strong brand reputation and positive public perception is a valuable asset that can help a company attract and retain customers while differentiating itself from competitors.
Very often, ‘crown jewels’ and ‘critical assets’ are used interchangeably.