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Oct
06

A Competitive Intelligence Note to a CEO

Tom Hawes Competitive Intelligence, Strategy Effectiveness 3 comments

CEOIt took you years of hard work to reach the corner office.

You worked through multiple assignments to deliver results and overcome challenges. At each career step, your responsibilities increased and so did the expectations. More and more people looked to you to set the strategies and determine the directions to follow.

Now, after all that time, the entire company is yours to lead. You have arrived.

Others look at you and think that you have the most latitude because of your high position. If they only knew the truth. So many things constrain and concern you. The employees look to you for leadership and countless decisions about priorities, promotions and their own job security. Customers constantly want more and on better terms than before. Investors want the share price to increase and their investments to pay off. Analysts want above average growth and a story about ongoing differentiation. Meanwhile, your many competitors only want you to fail and are doing their best to make that happen.

Somehow, you have to orchestrate this complex combination of constituencies and competitors.

There is not one answer to this balancing act. You naturally will integrate inputs from your team and the environment to settle on what seems best. One source of inputs is competitive intelligence. Competitive Intelligence can help you to organize your external perspectives and align your team to compete better. Here are five ways.

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business strategy, Competitive Intelligence, management, Strategy Effectiveness
Oct
01

A Competitive Intelligence Note to Strategic Marketing

Tom Hawes Competitive Intelligence, Strategy Effectiveness 4 comments

TelescopeEveryone else is working on the current products and the near-term tasks. Meanwhile, you are responsible for what comes next. Your focus is the next wave of products and the technologies that they require. You are monitoring key standards bodies, investments made by competitors and shifting loyalties of the key customers. There is pressure to make sure that the company is preparing correctly for this future. Your job depends on making the right calls and convincing busy people that you are right.

The bulk of the organization focuses on tactics. There is urgency in their actions. Near-term competition and priorities consume most of management’s attention. The last thing that most want is to be distracted with thinking about the future, especially when it might negatively affect what they are doing today. Your job, however, is to convince these busy people to change because of what is coming. They need to be convinced to balance what is pressing today with what is necessary to prepare for the future.

Few have the right combination of skill, motivation and shear persistence to do this job well. Here is what you must accomplish and how Competitive Intelligence helps with those challenges.

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business strategy, Competitive Intelligence, gap analysis, Strategy Effectiveness
Sep
21

A Competitive Intelligence Note to a General Manager

Tom Hawes Competitive Intelligence, Strategy Effectiveness 1 comment

GeneralManagerYou are a busy person and taking time to read this is a significant investment for you.

You know what it is like to create and run a business successfully in a market environment that is highly competitive and requires that everyone on your teams understands and contributes to the mission that you have defined. Executing the current business is difficult enough without the ever present and pressing complications of competition. Yet, competition is real and what others do makes a difference to your success or failure. Competitive intelligence can help you navigate through the complexities of the competitive environment better.

Alignment leading to tangible results in market share, revenue and profits is what you are after. Your goal is strategies that mobilize the organization and point the right way forward. There are five common imperatives that you have and several ways that competitive intelligence can help you.

  • Protect the current business. Operational issues are important because today’s business funds tomorrow’s investments. Current products must be sold. Current customers must be serviced. How are you doing compared to your major competitors? Would benchmarking show more that you have more advantages or disadvantages?StrategicMap
    Compare selling and business development strategies with competitors, benchmark your operations and analyze customer decision-making criteria.
  • Mobilize the organization. No important competitor is passive. Dedicated people at those companies are working to shape the future in their favor rather than yours. Their strategies are being implemented and you need to know what they are and what they mean to your strategies. One person cannot possibly do this alone. However, a well trained and focused team can do it and win. What would it mean to you to have your organization highly tuned to the competitive environment?
    Provide periodic competitive news and alerts, implement information sharing tools and train teams to identify important competitive intelligence issues.
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alignment, business strategy, Competitive Intelligence, Strategy Effectiveness
Aug
28

Thinking Strategically, Acting Tactically

Tom Hawes Competitive Intelligence, Strategy Effectiveness Add your comment

KenyaIt probably wasn’t until I spent time in Malindi, Kenya, that I got a visceral sense of what it meant to be in the minority. My skin was far lighter, my hair was different and my clothes seemed out of place. I was a “mzungu” (white person). The people were quite kind yet I knew that most of the social adaptations would have to come from me. For a relatively brief time I felt what minorities must feel all the time when they live permanently with people different from themselves.

What does skin color and social background have to do with strategic or tactical thinking?

Only the recognition that the world is dominated by tactical thinking and a strategist will always be in the minority. “Minority thinking” means that most of the time the strategists must adapt to the tacticians rather than the inverse. It does not mean however that strategists are less valuable or needed. And it does not mean that strategy is unimportant. But a strategist that only masters strategic thinking without understanding how to act tactically will most likely fail (or at best succeed sporadically).

The critical implication is that a strategist has a particular requirement to speak two languages. First, there is the native language of strategy. Second, there is the foreign language of the majority that is primarily tactical.

Say something strategic to most tactical people and it would be like a Kenyan saying something in Swahili to me. Aside from “hakuna matata” (no worries) and a few other phrases, I would be lost. Similarly, when strategy encounters a tactical mindset, the strategist faces the likely outcome that they will be misunderstood unless they follow some simple rules.

Here are 5 powerful rules that can help guide a strategist’s behavior and translate their message.

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business strategy, Competitive Intelligence, strategy, Strategy Effectiveness, strategy implementation
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