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May
15

CI Series: 3. Tease The Vision

Tom Hawes Competitive Intelligence, Strategy Effectiveness Add your comment

Congrats.wmfCongratulations!

If you have gotten this far then you already spotted an important need for competitive intelligence, identified a senior leader that cares about it and managed to get the assignment to address the need. Even better than that, you worked into the discussion the topic “competitive intelligence.” Whether or not it really registered with your leader could be debated. They may have simply been glad to offload a difficult subject to a willing soul. Their expectations are low (and you should have tried to set them that way) but you have started toward a vision that will now become clearer soon.

More importantly, you have begun to set a people oriented tempo to your work.

You are recognizing (or at least hoping) that competitive intelligence will touch important areas for leaders in the company. CI analyses will show how well competitors are doing and sometimes how poorly your company is performing.

Meanwhile, leaders and peers are invested in how things are going. They set in place strategies that they think will be effective. And your work will eventually help them be more successful. However, that time is in the future. Between now and then is a minefield of egos, insecurities, turf wars, differing philosophies and more. Don’t worry too much, you can get through it. I’ll help you.

What’s next in our slow march to introduce a successful competitive intelligence program into the organization?

You tease them.

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business strategy, Competitive Intelligence, consulting, effective presentations, management, strategy, Strategy Effectiveness, strategy evaluation, strategy implementation
May
13

CI Series: 2. Get The Job

Tom Hawes Competitive Intelligence, Strategy Effectiveness 4 comments

Do you believe that the best jobs are the ones created for you? (I do.)

That is, because of your interests, skills and initiatives, you convince someone to assign to you what you wanted all along.

Competitive intelligence positions are often like that. As I described in my “Find the Pain” entry, it starts with recognizing that something is missing in the organization and seeing that the missing element is causing real pain to someone in leadership. Though their response to the pain may not be the immediate formation of a competitive intelligence function, there is an opportunity for someone with insight to gain such a role.

What does it take to get the job? There are two important points to remember.

First, ask for the job by name.

That means that using “competitive”, “competitor” or “intelligence” in your discussions is important. At this stage it only signals the domain of your effort. It does not mean that the leader has to authorize a budget, commit significant personal time or invest their prestige in the effort. It does alert those that are observant that you might be about a larger, more valuable task.

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Competitive Intelligence, consulting, effective presentations, management, strategy, Strategy Effectiveness, strategy evaluation
May
08

The Human Side of Competitive Intelligence

Tom Hawes Competitive Intelligence 1 comment

In a high tech world, we are sometimes tempted to quantify, define and plan with a hopeful certainty about the outcomes. It is common for leaders and teams to specify a view of the future or of the market and create surefire (they hope) means to be successful. It is also common for people to assume that all within an organization are disposed to work together enthusiastically and seamlessly.

Plan A will lead to 30% sales growth this year! Our new product will blunt Competitor X’s market share and result in 10% incremental profit. All we have to do is get everyone on board with the new strategy, shift the execution focus and convince the potential customers and we will win!!

We do similar things in competitive intelligence. We start with a noble goal of understanding what every significant competitor is trying to do. Add to that knowledge of the market forces at play. Then, almost magically we hope, the organization will snap to attention to devise the tactics needed to overcome the competitive gaps (leading to the 30% sales growth, of course). More than that, we will be universally welcomed for our valuable contribution to the organization. Let the praise rain down on our heads.

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CI techniques, Competitive Intelligence, strategy, Strategy Effectiveness, strategy evaluation
Apr
17

Living in the Strategy Gray Zone

Tom Hawes Competitive Intelligence, Strategy Effectiveness Add your comment

eyeexamEvery year, I visit my friend the optometrist. One thing that I can count on is answering a lot of black and white questions as I stare through various lenses. You know the routine. Is this one better? Or, is this one better? Over and over again the black and white decision is required. This is how my doctor narrows down the choices about which lens will provide the best correction for each of my eyes. That way, he will know precisely what eye glass prescription that I should have.

Are black and white questions the best type of questions for business strategists?

The virtue of a black and white question is that the answer is succinct and distinct. There isn’t debate about whether we should develop a new product since the answer is “yes” or “no.” We don’t endlessly wonder about entering a new market because we can get a concrete answer quickly. New trends are less worrisome because we decide simply whether they will happen or they won’t. Nice. Tidy. Quick. And dangerously simple.

gradient

Strategy is best dealt with in grayscales

A grayscale implies that there are gradients. Gradients, in turn, imply that the future is blend of influences. Intuitively we recognize that this is true at work. Seldom do major decisions get made with a simple yes or no. There are debates, arguments, counter proposals and reflection. After much gnashing of teeth, an answer finally emerges. The effective strategist eschews the simplicity of black and white thinking and chooses to live in the gray zone. How is this done?

Banking on “it depends”

My graduate school professor once told me that the right answer to any complicated question is “it depends.” Amazingly, as I have practiced this in my work life, these two words often served to silence those that were trying to trap me into black and white thinking. My opponents retreated to attack another day when I might ignore the fact that life and strategy is complicated. (May their wait truly be long.)

Of course, the right retort would have been “it depends on what?” This is where a strategist makes money. For example, will mobile banking become a significant, consumer demanded service in the future? Snapshot answers (e.g., is it important today, will it be important in 2012) may be “yes” or “no”. More helpful are the answers which explain what has to be in place (e.g., technology, business models, competitive forces, etc.) for this type of service to be broadly available and seen as a differentiator in the market. This is less like a snapshot and more like a constantly changing movie. When all of the components of the “movie” are identified, then the strategist can make arguments, assemble evidence and track competitors with respect to those components.

Shift the question from “what” to “when”

Think for a moment about baseball. One of the hardest things to do in sports is to hit a baseball. It requires many skills including good hand-to-eye coordination, proper balance and superb eyesight. Still, the most important determinant of getting a good hit is timing. The batter has to time the arrival of the pitch (and its trajectory) with precision or else failure is almost certain. This is why pitchers (i.e., their competitors) are fundamentally trying to upset the batter’s timing. And, not surprisingly, the very best hitters fail almost seventy percent of the time.

Strategy is similar. It very often is about timing when a market will mature or when a specific product investment should be made. It’s about tracking the moves of competitors and understanding when their offerings will endanger your competitive position. It’s about using dynamic market feedback of all sorts to adjust the speed of responses and initiatives. (Sometimes we should go faster and sometimes we should go slower.) It’s about having a fine tuned sense of those critical dependencies and meshing them together (using models and other tools) in such a way that they can be viewed for discussion and debate.

Here are some reminders to get you to the strategist’s gray zone (and keep you there)

1.       Practice responding “it depends” to questions about the future

2.       Be ready to explain the dependencies

3.       Put things in place to monitor the dependencies over time as they change

4.       Create a model to show how the dependencies fit together and affect your business

5.       Regularly hypothesize possible competitive responses

My eye doctor can prescribe vision correction lenses. His methods work assuming that I actually wear the glasses that he prescribes. Though it may be counter intuitive at first, the strategist’s gray zone is actually much clearer and more valuable than the black and white world. Though it does not guarantee success, it does produce strategy that is richer and more effective than other mindsets.

Do you agree?

business strategy, Competitive Intelligence, future focus, management, Strategy Effectiveness, strategy evaluation, strategy implementation
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