For Those In a Discussion Group
As an analogy,
I am new to a role. (Answering your question.)
I want to develop my knowledge in competitive strategy (competing with the others in the group to offer the best answer.)
To be as productive as possible as quickly as possible I would, as was suggested, do a quick industry analysis of my niche market. (Who is answering your question?)
Then, as was said, learn about the market. (Read up on what you do.)
You are in the [Business of].
What is a niche market in a [Your industry]?
A particular country, a particular industry, a particular service? These would be essentials to answering the question.
You can use the old stand-by SWOT test. (strengths weaknesses opportunities threats) but you should probably be more application specific.
Who are my customers?
What do they need?
Why are they buying from me?
Who are my competitors?
What do they supply?
Why are others buying from my competitors?
Who will be my customers?
What will they need?
Why should they buy from me?
What features do my customers need?
What features will my customers want?
Am I able to provide the product?
What are the prices?
What are my costs?
Time place utility. Can I get my product (or service) to where my customer needs it? Can I get my product (or service) to my customer when he wants it?
Form utility. Does my product meet the customers' needs or will it be necessary to modify my product or service.
Just to suggest a few.
Sincerely,
Slim
Mail: slimfairview@yahoo.com
Copyright (c) 2010 Slim Fairview
3 comments:
Dear Slim,
For me, the idea of "competive strategy" driven mindset has been replaced by a higher resonating theme--collaboration and cooperation in which one can surely find sustainable solutions that are at the same time profitable.
Rather than competing with another to get the "best" idea... there is another way that is not about one up and one down, rather it is about creating environments in which collaborative endeavors can happen and yield extraordinary ideas that are then subject to healthy critical thinking and yield solutions built on consensus in which other opportunities are created.
There exists a complexity in the world today that necessitates rethinking, renewal and the inclusion of diversity at a "feet on the ground" level or in a grounded realistic way.
Further, doing it better vs. doing it faster are two different things. Doing the right thing wrong vs doing the wrong thing right yield very different results and consequences.
One needs to consider the interconnectedness, the whole picture and that skills are needed beyond the long story of western world's hyper-rationalism and hyper-competitiveness that exists in certain cultures.
Hyper-competitiveness can yield undesirable long term results and consequences.
It is not enough to have knowledge which is a product of science. It is necessary to have understanding which is the product of why?
It is necessary to consider first and foremost solutions based on customer need / desire... and to involve customers in the process (know + understand).
Competition has a place for sure; it needs to be balanced. The end never justifies the means. The means counts a lot and can often translate into a longer-term thinking, planning and solutions based outcomes.
At present, it seems that the model needs to reflect products and services that are what the customer wants and needs in a simple manner (hidden sophistication) and with easy access by the customer to these services and products.
My best and warmest regards,
Maureen Kelsey
Maureen,
My monograph, The Future of the G-20 in Good Times and Bad, is an homage to co-operation.
Your point is well taken.
The above monograph arises from the question posted in a discussion group on Linkedin. Perhaps by someone who'd been recently promoted and who wants to hit the ground running.
Co-operation requires trust, and trust takes a bit of time to build. Too, we are more likely to trust someone who has proven himself or herself to be competent.
Thus, my strategy for devloping competitive strategies.
;-)
Slim
Skill sets of competency include
trust
(link to a recent artilce http://www.managementexchange.com/hack/trust-extender-enlarge-circle-trust-empowering-stakeholders-trust-and-reciprocate-trust
As well as areas of collaboration, consensus building, social and emotional...
Best regards, Maureen
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