Better Competitive Positioning Greatly Increases Profits and Growth!
The question today is, “How can we compete more effectively in an ever-increasing competitive environment?” Good management is built on sound principles, facts, and insight. Small and mid-sized companies can significantly increase profits, cash-flow, and growth by establishing a formal competitive position in the market. According to Dr. Porter at Harvard University, 50% of company profits are tied to operational excellence and the other 50% are tied to competitive positioning. Following are some winning insights for ABA Insiders concerning Competitive Positioning:
- Good positioning begins with a careful situational analysis of your strengths and weaknesses as compared to your competitors.
- Your situational analysis should also include the impact of industry forces on your profits and growth. A clear understanding of these forces empowers you to engineer strategies.
- An independent survey of what your competitors and customers believe to be your strengths, value, and distinctive, will assure that your competitive position is not biased on “insider” views of the company.
- From this information write a carefully designed Competitive Positioning Statement, engineered to out-wit the competition, that will greatly improve your growth, profits and cash flow.
The ABA Insider is published by American Business Advisors, Inc. to provide business and personal improvement information and ideas. All material is presented to provide general and broad information only. The information found in this publication does not constitute business, tax, financial, or legal advice and should not be acted upon without seeking the counsel of professional advisor.
Originally posted 2015-08-13 19:04:53.