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01
Mar
2012
Ensuring competitiveness is success

Achieving optimum competitiveness is actually ‘the objective’ of all other corporate sub-objectives. If the company is competitive; it is alive in the local, regional or global marketplace.  The time it loses her competitiveness it loses her life.

 

In order to rate companies over others we always like to see how competitive they are in comparison to their peers, rivals, market, time or indices. It simply suggests that competitiveness level of the company determines her life in the market.

 

In today’s world competitiveness is not seen merely in regard to the products of the firm. The shape of all the variables that constitutes the product [and then the bottom line] of the company need to be competitive.

  

We can be competitive in current time but when we make business models we also focus the projected level of competitors, technology, management-practices etc. to estimate the level of our competiveness to face challenges of projected and contingent factors in future.

 

If the company is competitive in the growing industry or sector where majority of the participants are local they always have to anticipate foreign players. This factor can actually turn the whole table to set new targets for competition. It is always advisable to test your competiveness in hypothetical models whereby you can add the elements that possibly can take the market over in the future.

 

In above regards competitive intelligence or CI plays a vital role and corporate CI structure has to be on top to meet any sort of anticipate or contingent challenge.

 

Before anything that we do or we can, the knowledge factor of the company plays a key role. How well you are in line with the research of where you are, why you are, what is your market, what your market can be in next five or ten years and where you see yourself in future market determines the format of your strategy.

 

As per Benjamin Gilad:

 

“Competitiveness is based on knowledge. The way companies acquire knowledge from their markets and apply it will determine their ability to survive into the 21st century. The competitive learning process is more essential to survival and growth than any other management process.”

 

Competitive Intelligence requires a real proactive approach whereby your determination to access and process the information has to be a core focus of your overall strategy.

 

It is not only intelligence that is required but your counter intelligence has a role whereby you need to protect your own corporate information & strategy variables from your competitor’s CI receptors. In this regard sometimes we need disinformation to go out in form of tailored package for our competitors.    

 

We need to be good in collecting information as much as we can. In order to collect useful information we need to be enough efficient to know what sort of information we need. Wasting time in knowing everything irrelevant to our objectives is not advisable.

 

We always do SWOT analysis for our company, it is also required to profile the same way to our rivals in the market. I have seen many managers who focus nonhuman intelligence like published data etc. as their primary focus in CI, in my view human intelligence is always more effective. In this regard our network has to be firmly structured across the market.

 

We always see the factors the can drive us to certain strategy. In a same way we need to list the factors that can drive our competitors to opt a certain sort of strategy framework. And then it is our CI job to search the factors that can block the competitor’s framework that ultimately work for our strategy.

 

In all above regards and others that I cannot post as of limitation of article size we need to have a sophisticated CI Unit in the company. It is not advisable to have separate Risk Management & Research Departments. Both have to work under the umbrella of CI Unit for companies. It is merely because we do both to be competitive in the market.

 

I am sure that the emerging challenges in the corporate world requires stakeholders to have superb competitiveness in their financial arrangements, capital utilization, labor productivity, marketing campaigns & product attributes. In order to meet the challenge we need a firm factors analysis related to competiveness. And after this the class of master planning and strategy do the rest that works through stylish implementation and control.

 

The success remains with those who thinks, knows & do the best.      


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Mr. Omer

Mr. Omer [1982 born] started  his professional career as a commercial / investment banker after achieving Gold Medal in Finance at master level from University of Karachi in 2006.

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