Competition is like the death stare before the game. Here’s why it’s important to know your competitor

“Yes competition is increasing and we need to match their strategies”- looks like a common argument in many strategy meetings. However, there is a limit to follow the competition blindly.

Remember you are in the market to serve the customer and not to just mindlessly beat the competition forgetting the customer altogether.
“Every company has a DNA at its core, any strategy that is formulated needs to be in line with the overall DNA. In today’s marketplace where responses to competition are both strategic and tactical, any strategy that is ‘me too’, which goes against the company’s DNA is a sure shot recipe for debacle – both short term as well as long term. At the end of the day, customers remember companies by the nature of their DNA and not by ‘copy paste’ strategies,” stresses Sunil Nayak, CEO, Reliance Jewels.

The strategic humour story “Competition - Death stare before the game and target focus in the game!” highlights that it is important to know your competitor and study him in detail but one should focus on the target, in this case winning the race, rather than the competition and getting distracted.

Here, have a look!



(The article is authored by Prof. Rajesh K. Pillania is judged Best Faculty for Strategic Management in India by ASSOCHAM & Education Post and is ranked jointly #1 for research productivity among management professors in India. He is author of Strategic Humour book and is faculty of Strategy with MDI, Gurgaon.)