Quote of the month: "In order to succeed we must first believe
that we can " Michael Korda
The Right Way to Compete
Briefings ideas that work
Is your organization on the right path to best its competitors? Consider
the results of a five-year study of 30 companies around the world:
- The less successful companies in the group base their strategy
on this question: What’s the competition doing? Then, they focus on
outperforming rivals. Result: The competition, not their customers,
determines their strategy.
- High-growth firms base their strategy on this question: What
do customers really value, and what would it take to win them over even
without marketing? Result: They make the competition irrelevant
by offering customers higher value.
Source: Value Innovation, W. Chan Kim and Renee Mauborgne,
cited in Financial Times, 14 E. 60th St., New York, NY 10022