September 2021
Intermediate to advanced
414 pages
11h 3m
English
Content preview from The Financial Times Guide to Strategy, 5th Edition
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CHAPTER 8
WHAT ABOUT THE COMPETITORS?
Modern management thought presents two opposite views on how important it is to analyse competitors. One view is that understanding competitors and how to beat them is at the heart of competitive advantage and strategy. The other is that the key thing is to get on with your own life, learn how to serve customers best and reduce costs, and not worry too much about what anyone else is doing.
My view is poised nicely between the two extremes. I would never start doing Business Unit Strategy by looking at the competitors, except to help define the segments. The key things to understand, to start with, are what your own firm is good at, where it makes the most money, and what your customers think of you. I also ...
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