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Category Archives for "Competitive Strategy"

Changing Threats to Opportunities

Changing Threats to Opportunities can Lead to Game-Changing Innovation In strategic planning, we consider opportunities, and scary things, like threats.  Some of the best innovations come from changing threats to opportunities.  Game-changing innovation that transforms an industry and stimies the competition can come from serious threats. Examples of changing threats to opportunities First, one client, […]

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The Fear of Being Different

Being different is one of the keys to profitability, however, it is also one of the most feared strategies. Clearly, there are very few success stories about companies that behaved just like their competitors.  This may be because managers feel unusually vulnerable when considering a strategy that builds true distinction for their brand.  In so […]

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Creating an Environment for Innovation: Innovation Process

Innovation Process In addition to creating an encouraging atmosphere, management must create some procedures to channel the innovation process. Although unstructured thoughts are necessary for brainstorming, they can lead to missed opportunities and wasted resources in the innovation process. The innovation process must be reasonably well structured First, management must create an environment to encourage […]

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Creating an Environment for Innovation – Part Two: Internal Communication

Internal communication is a key component of innovation The innovation process will be better when everyone understands the company goals and objectives.  Additionally, internal communication based on openness and trust helps to set this atmosphere. Internal communication, however, is a weakness in many companies For example, a recent article profiled a well-known company. In the […]

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