Do you have viability?
It is essential to understand what’s the long term viability of your industry is. This article asks – viability will you still be on the battlefield in the future. When assess viability on the battlefield it’s critical to look for the trends could change the rules of the game. Also, what would allow a competitor to change the rules of the game? Understand the reward (and cost) of being a winner/loser within your industry. And, also in five years, what will your industry winners look like.
Viability. These questions may help:
- Who are the industry leaders?
- What are they doing and why? What’s their viability?
- What are the critical success factors in your industry?
- And what does your competitor do? – (Not as simple and straightforward question as it seems).
- What are the key players saying?
- What are they not saying?
- Do their actions match their words?
- Where do they compete, which customers and niches?
- How are they going to fight in the future?
- Are their strategic objectives achievable and will they clash with yours?
- What options do we have to compete in this changing world?
- How will you differentiate against them?
- Can you isolate vulnerabilities to exploit?
- If you had limitless resources, do you know which of your competitor’s people would make a significant difference to your organisation?
Answers to these questions could create a powerful list that would be to highlight your strengths and weaknesses, viability and your future plans.
Viability will you still be on the battefield in the future
As you know, Competitive Intelligence helps you stay ahead of the game, but to remain on the battlefield the isolated competitive analysis, you must result in action. Very important when assessing viability on the battlefield. Now, ask yourself, will you still be on the battlefield?