Unmodelling The New Differentiators
HOW ARE SUCCESS FACTORS CHANGING IN THE BUSINESS WORLD?
… AND HOW DO YOU FIT IN?
Many of the competitive advantages of the past have become enablers. They enable the company to play in the market space, but they do not help to differentiate the company’s products or services in the eyes of the customers.
Let’s try to get an overview of what is changing and use it to focus on the resources and assets that make your business stand out.
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This has been a primer.
Our free Programme Intangible Economics will take you to the next level, enabling you to dive deeper into the success factors of today’s economies.
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Question 1 of 7Question #1
What is all the talk about digital disruption really about?
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Question 2 of 7Question #2
What has changed in your industry?
How did the following change? Sort them, listing the biggest changes on top.
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customers’ habits
e.g. did modes of shopping change, are products now sought as services, etc?
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value chains
which activities used to be offered in-house and can now be outsourced or acquired as a service?
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customers’ purchase criteria
e.g. how important is the quality of the product versus additional services and integrations
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currencies exchanged
e.g. how do customers pay for your offering, what do they provide? Do they just pay in cash, or do they also add value to your organisation by providing their data or information? -
focus of your business activities
e.g. have software capabilities, data science capabilities, audience reach increased in importance?
View Answers:
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Question 3 of 7Question #3
What are traditional versus today’s success factors?
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manufacturing capabilities
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capital
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data
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customer relationships
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network effects
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traditional
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traditional
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recent
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recent
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recent
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Question 4 of 7Question #4
What it really is that you are selling?
Many companies sell notebooks, yet only Moleskine sells “a book yet to be written.” Their aim is to inspire imaginations and fuel creative practice. The paper of their notebooks is the same as others, however its legacy and the ecosystem they have built around the product is vastly different from its competitors.
What is it that makes your business unique in the eyes of your customers?
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Question 5 of 7Question #5
What’s your Fuel? How are your competencies shifting?
When you play poker, do you continue with the strategy you started with in the first betting round, or do you adjust with each new set of cards?
Since the Industrial Age, there have been quite a few sets of cards dealt. With each round, businesses have re-evaluated the skills that were needed to succeed in the marketplace. In our fast changing world, value chains have been reshuffled and the skills and resources that companies apply have changed.
While ideally the core mission of businesses stays constant, the format in which that mission is produced, delivered and communicated have evolved. Along the way, the required competencies have evolved as well.
Think for example about Nike, whose mission constantly stayed:
Bring Inspiration And Innovation To Every Athlete* In The World
*If You Have A Body, You Are An Athlete.
While their mission has stayed constant, enabling the brand to grow stronger and stronger, that mission today is not only delivered through shoes, but also through events, apps, and experiences to reflect changes in culture, in customer needs and in available technologies.
How have competencies in your industry evolved? What has stayed the constant core, and what is evolving?
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Question 6 of 7Question #6
Let’s look at an example to highlight some of the success factors of today’s world.
Which of the following businesses are closest to streetwear brand Supreme’s business?
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Question 7 of 7Question #7
… and we close up with another example:
What is Key to GoPro’s success?
Why is it that this company can successful compete with consumer electronics giants for so long?
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