The secret of business is to know
something that no one else doesAristole Onassis
We can help you to evaluate your business, discuss the results and gain different insights that will enable you and your team to make different decisions.
As leaders become more agile at making robust decisions, so they become better able to create a platform which enables their business to flex with the demands of their ever changing market.
Specifically, we offer:
The Strategic Review consists of your Competitive Strength Report and facilitated workshop to discuss its results.
This may just be the catalyst you need to promote a top level dialogue on maximizing your competitive advantage and dealing with some of your concerns regarding the strategic direction your business needs to take.
- Strategic Review combines an objective competitive advantage assessment with a focused facilitated discussion to align lateral thinking and vertical thinking in senior teams.
Lateral thinking about a business, evaluates it’s Competitive Strength and Competitive Fitness.
Vertical thinking assesses the relevance, importance and likely potential of the risks at play within the Abyss which exists in the market and undermines your business.
Your Competitive Advantage Review is most beneficial when…
• Preparing for a strategic review – get a lateral approach to considering options
• Improving consensus and cohesion at a senior level
• Increasing the rate at which your organisation achieves its Vision and realises the benefits
• Moving your organisation on from working hard to becoming more effective and robust
• Achieving a sea-change in attitudes, cultural barriers or other obstacles to Excellence
• Seeking new markets and/or reverse declining market share and margins
• Meeting the challenge from new, better, faster and lower cost (economy) market entrants
• Cementing a merger or acquisition – at the time or when the benefits are still to be realised
• Improving the robustness and fluidity of the supply chain or distribution channels
• Gaining and/or securing a position of market dominance
Evaluating your Sustainable Competitive Advantage
Competitive Advantage is when you have created a gap between your business and your competitors that is just large enough to prevent them from influencing your position in the market.
It used to lie in your product or service and was supported by excellent customer service and sound operations.
These elements no longer define or maintain competitive advantage alone.
Any business with a strong competitive advantage is one which has balanced consolidating its competitive strength with developing its competitive fitness across all levels and with all its people.
How clear are your leaders about what makes up your Competitive Advantage?
Does your Business Plan clearly identify your critical elements for success?
Research over the past decade by Vinod Singhal , Jim Collins and others continues to show when competitive strength and competitive fitness are consciously chosen and implemented, it creates a sustainable business advantage of up to 44% in net worth*.
Barriers to Competitive Advantage
What gets in the way of creating and sustaining these performance results is usually a combination of:
1. Senior teams remaining primarily functional in their discussions and focus. This usually leads to misaligned intentions, long lead times to decision making; dominant thinking and actions as well as lobbying behaviour.
2. Repeatedly relying on and using the same review processes which worked in the past- and expecting different results. This is particularly true of strategic reviews, strategic planning workshops and crises investigations.
3. Forcing past processes and systems onto future circumstances without taking into account the learnings and insights gained as a result of experience.
4. Focusing on the “fun parts” of the business which tends skew the thinking towards being fit, to the detriment of consolidation thinking which contributes to strength. The results is a business which thinks it is innovative and fleet of foot. In reality it is unable to consistently deliver products and services to standard at the right cost or time.
5. Relying on the strategic planning methodology to deliver new insights. Gaining a different view of the business needs a strong focus on strategic thinking which then sets the focus points of the plan.
6. Making conditional business decisions i.e. those which rely , on the thoughts of yesterday. Making “unconditional” strategic decisions creates thinking and therefore decisions that drive innovation, creativity and robust business actions.