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Competitive Benchmarking
Competitive benchmarking was simple in the Twentieth Century. You knew who your competitors were, and there were only a handful that actually mattered. Today, digital technologies have broken market barriers by creating new ways to generate and deliver value. Your Twenty-First Century competitors include large tech firms, under-the-radar startups, and your own channel partners, suppliers and customers. Meanwhile, you may find it increasingly necessary to collaborate with traditional competitors in order to remain competitive against new market entrants.
Modern benchmarking analysis provides insight into the strategies, product portfolios, business models, technology stacks, sales channels, and business ecosystems of the companies that either threaten your market position today or could threaten it tomorrow. The list of companies that ignored disruptive competitive threats is extensive and well documented: Blockbuster Video, Nokia, Kodak. The longevity of companies on the Global Fortune 500 list declined from an average of 61 years in 1960 to 17 years today. Market leaders were usually not replaced by the number 5 player in the industry catching up, they were replaced by new entrants that used innovative solutions and business models to generate value in new ways.
DURATION
Engagements typically range from one to three months.
LANGUAGE
English, German, Chinese
Information
Who is this for?
Seniority Level: C-1 (e.g., vice president, global head of X), C-2 (e.g., director, regional head of X)
Functions: Business Leadership (e.g. P&L ownership), Strategic (e.g., strategy, M&A, corporate venture)
Benefits
- Anticipate competitive challenges from new sources while they are immature so you can develop an effective response.
- Reduce complacency by create a sense of urgency and excitement around responding to new threats and market dynamics.
- Learn from new competitors and incorporate aspects of their business model into your existing or new ventures.
