Future Competitive Strategy Identification
This article is called future competitive strategy identification. It suggests seven possible competitive strategy processes. Strategies to assist you in developing futures from wargaming and scenario planning exercises.
Look ahead 30 years
Think about what will influence the future. Look ahead to 30 years and the society we will live in. Initially, hold back on the ideas all sides of the political agenda promote. Look at trends and isolate uncertainties. What would a future society value? What relationships will people have with each other and technology?
Factors to determine the future?
Think about the future you would like to see. Or hope to see it. What would need to happen for this future to become a reality? Do the same with a more pessimistic future. What will have to happen for this to occur? Or what do we need to keep doing to make this happen?
Take a look and investigate how the main uncertainties of your predicted futures. And then assess how they may evolve. Create clear, creative and colourful descriptions. And with supporting research to develop scenarios into a rich picture of the future. And the journey it will take. Remember, it’s highly like there are many potential future models to simulate.
Will your organisation be around within these future scenarios? What does your business need to do to make sure it is? What are your strengths, and can you put them into the context of future scenarios?
Assess what you need to do better than your competitors. Will they be your competitors in the future? Why will customers still want what you do? Will the customers need you always be around? Will other new competitors from different industries move into your sector? How can you disrupt things in the future?
Investigate further. Look at the motivations of the future key industry players. What will they be doing in your future vision? How will they react to the future, and what competitive advantage will they create?
Could you work with competitors to develop something special for the future?
Planning and wargaming
Develop a plan by using wargaming to assess the required actions. Look at the subsequent competitor reactions and how it will all affect your business. Practice tactics and ask questions like what if, so what and why would it be like this? Assess what you would do differently and assess what the results would be.
Gain further insight
Understand the moves you need to make to make the most of future scenarios. To ensure you can promptly isolate potential early warning signals. Rehearing moves creates new ideas. Allowing your teams to challenge current and future assumptions. Be better prepared for future disruption. It will enable you to be more resilient and less afraid of significant change. Finally, change from looking ahead 30 years to 5 years. Conduct these same activities again.
This article was called future competitive strategy identification. It suggested seven possible competitive strategy processes. Strategies to assist you in developing strategies from wargaming and scenario planning exercises.