Avoiding Complacency: Monitoring Your Market and Competitors

Posted by Michael Lindberg on Aug 19, 2018 9:58:04 AM

monitoring your competitors

It's Never Time to Relax

Implementing a strong business model is great but it’s not enough. You need to constantly stay ahead of your competitors to maintain the dominant position in your market.


Being agile gives you the ability to take advantage of the opportunities technology and other changes create. So, when you see an opening you should be ready to jump at it because your competitors will see it too. What you need is strategic agility and a flexible business model you constantly challenge. You can do so with ongoing and intelligent monitoring of:


  • Your customers
  • Your competitors
  • Your markets
  • New technologies


If you monitor in a structured and intelligent way you can outcompete your competitors by:


  • Identifying threats and opportunities
  • Anticipating and detecting competitors’ strategic decisions
  • Anticipating and detecting competitive products
  • Anticipating new customer needs
  • Detecting and winning new business opportunities


In this way, you will constantly be on the move, never complacent, and always looking out for the next opportunity.




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Topics: Business Model Innovation, Strategic Agility