How to Outthink, Outmaneuver, and Outperform Your Competitors Lessons from the Masters of Strategy Norton Paley How to Outthink, Outmaneuver, and Outperform Your Competitors Lessons from the Masters of Strategy How to Outthink, Outmaneuver, and Outperform Your Competitors Lessons from the Masters of Strategy Norton Paley CRC Press Taylor & Francis Group 6000 Broken Sound Parkway NW, Suite 300 Boca Raton, FL 33487-2742 © 2013 by Norton Paley CRC Press is an imprint of Taylor & Francis Group, an Informa business No claim to original U.S Government works Version Date: 20130321 International Standard Book Number-13: 978-1-4665-6541-8 (eBook - PDF) This book contains information obtained from authentic and highly regarded sources Reasonable efforts have been made to publish reliable data and information, but the author and publisher cannot assume responsibility for the validity of all materials or the consequences of their use The authors and publishers have attempted to trace the copyright holders of all material reproduced in this publication and apologize to copyright holders if permission to publish in this form has not been obtained If any copyright material has not been acknowledged please write and let us know so we may rectify in any future reprint Except as permitted under U.S Copyright Law, no part of this book may be reprinted, reproduced, transmitted, or utilized in any form by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying, microfilming, and recording, or in any information storage or retrieval system, without written permission from the publishers For permission to photocopy or use material electronically from this work, please access www.copyright com (http://www.copyright.com/) or contact the Copyright Clearance Center, Inc (CCC), 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400 CCC is a not-for-profit organization that provides licenses and registration for a variety of users For organizations that have been granted a photocopy license by the CCC, a separate system of payment has been arranged Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe Visit the Taylor & Francis Web site at http://www.taylorandfrancis.com and the CRC Press Web site at http://www.crcpress.com To the next generation: Isaiah, Natalia, Zeke © 2010 Taylor & Francis Group, LLC Contents Introduction xiii About the Author xxvii Chapter Apply Strength against Weakness: Maneuver by Indirect Strategy Maneuver by Indirect Strategy Developing an Indirect Strategy Define Your Strategic Goals What Are Your Organization’s Distinctive Strengths or Areas of Expertise? What Business Should Your Organization Be in over the Next Three to Five Years? .6 What Segments or Categories of Customers Will Your Company Serve? What Additional Functions Are You Likely to Fulfill for Customers as You See the Market Evolve? What New Technologies Will Your Firm Require to Satisfy Future Customer Needs? What Changes Are Taking Place in Markets, Consumer Behavior, Competition, Environment, and the Economy That Are Likely to Impact Your Company? Determine the Resources Needed to Achieve Your Goal 10 Gather Competitive Intelligence .13 Establish Security 16 Implemen Marketing research: Cite any customer studies or market data that reveal opportunities for new revenue streams Credit: Include any programs that use credit and finance as a value-added service, such as providing financial advice or offering financial assistance to customers in specific situations © 2010 Taylor & Francis Group, LLC 264 • Appendix 3: Strategy Action Plan Technical sales activities: Include any support activities, such as 24/7 hot-line assistance or onsite consultation to solve customers’ problems Research and development: Indicate internal research and development projects, as well as joint ventures that would complement the Strategic Direction identified in Section of the SAP Human resource development and training: Identify specialized training and development programs to upgrade the skills of those individuals who are responsible for implementing the SAP Other: Include any activities that would contribute to your organization’s uniqueness, and thereby provide an indirect strategy to achieve a competitive advantage Section 8: Strategies and Tactics Overview Strategy is the art of coordinating the means (money, human resources, materials) to achieve the ends (profits, customer satisfaction, growth) as defined by company policy, strategic direction, and objectives From another perspective, strategies are actions to achieve long-term objectives; tactics are actions to achieve short-term objectives Therefore, in this section strategies and tactics are identified and put into action Responsibilities are assigned, schedules set, budgets established, and checkpoints determined © 2010 Taylor & Francis Group, LLC ... How to Outthink, Outmaneuver, and Outperform Your Competitors Lessons from the Masters of Strategy How to Outthink, Outmaneuver, and Outperform Your Competitors Lessons from the Masters of Strategy. ../ Leadership Strategy Supplying you with a firm grasp of the roots of strategy, How to Outthink, Outmaneuver, and Outperform Your Competitors: Lessons from the Masters of Strategy explains how to develo...n reinforce your understanding and practice of strategy The book defines the historical origins of strategy and supplies timeless insight into how successful leaders have implemented comprehensive strateg