To Avoid Being Blindsided, Develop Your Peripheral Vision
Your competitor launches a product that knocks yours off the shelf - and you didn't see it coming. Another slashes prices, and yet another expands into another industry and achieves outstanding growth - again, seemingly without warning. There is no way to predict the future. But some organizations are able to better anticipate competitive events and create flexible strategies well before they become reality - strategies that enable them to respond nimbly when they do. A recent study of corporate strategists found that two-thirds admitted that their organizations were surprised by as many as three high-impact competitive events in the past five years. Moreover, 97 percent said they did not have the early warning systems to prevent such surprises in the future.