On Strategy: Focus on Weaknesses
By Jack Mixner
Michael Porter wasn't the first to talk about restoring competitive advantage. Clarkeson suggests three strategies for returning to profitability and growth:
- Restore competitive advantage focusing on the few areas your expertise exceeds that of your competitor's.
- Develop proprietary technology whether it be a breakthrough development or with the help of a third party supplier.
- Uncover specific needs of customers allowing you to differentiate operations.
Strategic Implication
The trend is to assume that some foreign manufacturer will steal share from you based solely upon price.
There are - and will continue to be - alternatives.
Reference
Stern, Carl W. and Michael S. Deimler. The Boston Consulting Group on Strategy. John Wiley & Sons, Inc. 2006. [From the essay Stalemate: the Problem, 1984, John S. Clarkeson.]