Compete Smarter, Not Harder: A Process for Developing the Right Priorities Through Strategic Thinking
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How to compete in the right space for greater profitability and growth
The Internet, mobile technology, the ubiquity of information and the availability of big data have dramatically increased the speed and impact of success and failure. Companies today know that they must be competitive, but precisely where, and more importantly how, to compete is not always easy to identify—until now. Compete Smarter, Not Harder explains how to prioritize market opportunities so that a company's strengths in one area can be leveraged across multiple markets. Using cutting-edge academic research and extensive industry practice, author William Putsis outlines the strategic decisions needed to determine which space provides the best margins, overall profitability, and growth potential.
- Details a step-by-step process for strategic prioritization, from strategic market selection to the tactics of execution, providing competitive advantage across markets
- Written by Doctor William Putsis, a professor of marketing, economics, and business strategy at the University of North Carolina at Chapel Hill, who has consulted and led executive development efforts with leading companies throughout the world
Prioritize with conviction. Make absolutely sure that all of your hard work goes toward the right space.
margin extraction, and leveraging strength in this part of the market to extract margins throughout the chain. Finally, it may be helpful to think of this in reverse. That is, had Jeppesen not been able to succeed in getting access to the real estate on board the ship, it wouldn't have benefited from VVOS competency acquisition through the OSI acquisition. Further, had it been able to develop these capabilities in-house (organically), it wouldn't have needed to acquire C-Map. And while organic
get the results you're seeking! HBO's Barbarians at the Gate was a business-based movie starring James Garner that I referenced earlier in the book to describe what a Rizzutoism would look like in practice. This movie—along with some of the experiences noted previously—has motivated us to develop a script for our own movie, which, like Barbarians at the Gate, is based on a real business setting. Now under review at a major Hollywood studio, the setting of one of the scenes and the rough script
market virtually without exception? One key issue for video store operators in the early days was managing inventory. Each week, there was high demand for the hot new titles; but after a few weeks, new became old, and the demand for the formerly sought-after titles subsided in a predictably dramatic fashion. Local operators—that typically had one to three stores in their market—couldn't stock too deeply on the most current titles. If they did, they'd be stuck with a large inventory of movies that
exactly what Perdue was selling. Rizzutoisms in business aren't limited to silly taglines—substantive examples abound. Cost-plus pricing, product-based segmentation, and distributional asymmetric incentive structures are all serious examples that we'll discuss later. For now, however, we will use the term Rizzutoism to refer to the use of convoluted logic in business. A concrete business example of a Rizzutoism in practice is that of R.J. Reynolds Tobacco Co.'s introduction of Premier
lighter, the carbon essentially “lit” the cigarette from the inside so that it produced virtually no secondhand smoke. The only smoke in the room was that which had already been filtered by the smoker's lungs (i.e., upon exhale)! In principle, this was a great idea: it attempted to allay peoples' fear of secondhand smoke, providing a new product push into a staid and declining business. R.J. Reynolds made a $350 million investment that, at first glance, was a reasonable business move. However,