Securing a sustainable competitive advantage is typically the stated aim of most organizations, yet why is it so difficult to achieve?
For many firms, enjoying an intermittent period of competitive advantage would be heaven; sustainable is out of the question. The most unique source of competitive advantage nearly always comes from within. It is almost a “Zen moment” when your leadership realizes just how much valuable insight resides within the various elements of the firm if only you could find a way of integrating it. Unique information, tailored to your competitive landscape and appropriate to your business model is lying undiscovered. So how do you find this valuable insight? This presentation outlines how a firm can organize its efforts around a cross-functional insight team and presents a case illustration of one organization which has successfully derived both intangible and tangible results from so doing.
Dr. Sheila Wright is Director of Strategic Partnerships Ltd. Since its inception in 1989, executive education, competitive intelligence, competitive analysis and business development projects have been undertaken in UK, USA, Germany, Italy, France, S. Africa, Spain and UAE. Sheila has managed projects for the World Bank, United Nations Industrial Development Organization, Food & Agriculture Organization and UK Government Ministries. Sheila’s interests lie in securing improved competitive performance and decision making in firms, an area in which her publications have been widely cited. She achieved an MBA from the University of Warwick, and a PhD in Competitive Intelligence & Insight Management. Dr. Wright will present 30 minutes of thought-provoking ideas on how you, too, can utilize a cross-functional team to deliver a competitive advantage, and will be joined by webinar moderator Dr. Craig S. Fleisher, Chief Learning Officer for Aurora WDC.
Insurers' journeys to build a mastery in the IoT usage
How to Challenge Assumptions and Surface Hidden Advantages Using a Cross-Functional Insight Team
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How to Challenge
Assumptions and Surface
Hidden Advantages Using a
Cross-Functional Insight Team
A Complimentary Webinar from Aurora WDC
12:00 Noon Eastern /// Wednesday 10 July 2013
~ featuring ~
Dr. Craig FleisherDr. Sheila Wright
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Today’s Agenda
We will examine the potential for Insight Teams to
deliver Intelligence-Based Competitive Advantage
We will identify the foundations, primary tasks and
processes which drive an Insight Team’s priorities
and discovery task
We will look at a real-life case illustration which
demonstrates the benefits which Insight Team
activity can have on business performance
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Intellectual Capital Generation
Resource-Based View of the Firm
Sense-Making School of Decision Making
Organizational Learning
Creation of Organizational Memory
Prevention of Organizational Forgetting
Knowledge Transfer
Participative Management Style and Culture
Identifying
Knowledge Gaps
Harvesting
Intelligence
Primary TasksFoundations
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Exploiting traditional intelligence systems
Identifying current knowledge assets and gaps
Securing touch points with all disciplines
Laying the foundation for a learning organization
Accepting “I don’t know”
Rewarding “I’ll find out”
Identifying
Knowledge Gaps
Harvesting
Intelligence
Primary TasksFoundations
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Secure both external and internal sources for
the common good using
Critical Intelligence Portals (CIPs)
and exploit the information flow from those to
ensure timely input into the decision making
process
Identifying
Knowledge Gaps
Harvesting
Intelligence
Primary TasksFoundations
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Critical Intelligence Portals
(Acquisition)
Knowledge
Management
System
Management
Information
System
Marketing
Information
System
Competitor
Monitoring
System
Competitive Analysis
(Transformation)
Strategy/Tactics Formulation
(Decision & Action)
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Knowledge Management System
Purpose
Structure Internal Information
Capitalise on Existing Knowledge
Alert Decision Makers
Elements
Data Mining
Records Interrogation
Data Warehousing
Organisational Learning
Applications
Knowledge Transfer
Success/Failure Analysis
Creating Organisational Memory
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Management Information System
Purpose
Identify External Influences
Identify Sector Level Prime Movers
Alert Decision Makers
Elements
Trends/Industry Change Analysis
Mergers & Acquisition Analysis
Return on Investment Analysis
Divestment/Disposal Analysis
Applications
Forecasting
Simulations
Stakeholder Value Assessment
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Marketing Information System
Purpose
Test Beliefs and Assumptions
Predict Activity Outcomes
Alert Decision Makers
Elements
Product and Market Research
Customer Feedback
Marketing Intelligence Reports
Channel Analysis
Applications
Portfolio Modelling
Brand Management
Reputation Management
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Competitor Monitoring System
Purpose
Identify Competitor Strategies
Identify Competitor Tactics
Alert Decision Makers
Elements
Disruptive Innovation Signals
New Entrant Analysis
War Gaming
Scenario Analysis
Applications
Competitor Profiling
Predicting Competitive Behaviour
Assessing Competitive Response Options
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KNOWN WITHIN
THE FIRM
UNKNOWN WITHIN
THE FIRM
KNOWN TO
COMPETITORS
Open
Knowledge
Knowledge
Gaps
UNKNOWN TO
COMPETITORS
Hidden
Knowledge
Industry
Threats
Identifying
Knowledge Gaps
Harvesting
Intelligence
Primary TasksFoundations
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KNOWN WITHIN
THE FIRM
UNKNOWN WITHIN
THE FIRM
CLEAR
Known Box
Certain Knowledge
What the organisation
knows it knows
Knowledge Management
System
Blind Box
Known Knowledge Gaps
What the organisation knows
it doesn’t know
Management Information
System
HAZY
Uncertain Box
Unconfirmed Knowledge
What the organisation believes
it knows but may not actually
know
Marketing Information
System
Unknown Box
Unknown Knowledge Gaps
What the organisation
doesn’t know it doesn’t know
Competitor Monitoring
System
Identification of Knowledge Gaps
PLUS
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HIDDEN
Hidden Box
Undiscovered Knowledge
What the organisation
doesn’t know it knows
Insight Team Discovery
Forgotten Box
Old Knowledge Gaps
What the organisation doesn’t
know that it used to know
Insight Team Discovery
EQUALS
Intelligence-Based Competitive Advantage
KNOWN WITHIN
THE FIRM
UNKNOWN WITHIN
THE FIRM
CLEAR
Known Box
Certain Knowledge
Blind Box
Known Knowledge Gaps
HAZY
Uncertain Box
Unconfirmed Knowledge
Unknown Box
Unknown Knowledge Gaps
Knowledge Gaps Insight Team Task Priorities
PLUS
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Employers Association Group (EAG)
Over 100 years old
Offers commercial business services such as industrial
relations and employment law advice, international
trade and health and safety consulting services,
apprenticeship schemes, an SME training centre and
publishing activities
300 staff members
Annual operating revenues of €18 million
Case Example - EAG
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Initial team members had a strong background in
primary MR and strategic analysis
Direct report to the Executive GM, Strategy & Marketing,
with substantial budget control
Positioned as part of a strategic rather than an
operational level, very visible to senior management and
decision makers
Pooled team skills from marketing, IT, finance and sales
Responsible for all MR and market analysis tasks
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Rapidly changing, increasingly complex
environment
Need for EAG to be a trusted expert source of
information for its members
EAG had to capitalize on its existing knowledge
to transform it into value for its members
Identify new products which EAG could offer
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Year 1: Getting the house in order
Critically analysed past successes and challenges (KMS)
Consolidated cost base, decreased non-critical expenditures
(KMS)
Identified market needs, began to speculate (MIS)
Challenged current understanding of member needs (MkIS)
Evaluated current channel agreements (MkIS)
Evaluated competitor offerings (CMS)
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Year 2: New beginnings
Restructured product/service offering
Adopted a new pricing model
Formed agreements with accredited partners for
outsourcing
Re-launched the brand
Further developed CRM capabilities
Implemented new channel strategies for core products
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Year 3: Leveraging for growth
Focused on existing segments and product categories
Identified growth opportunities through NPD and
acquisition
Implemented enterprise-wide knowledge assets system, data
warehouse suite of analytical tools and management
dashboards
Achieved integration into both operational and strategic
planning processes
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Industry dossiers for strategic targets including:
Industry value chain, market size and character,
penetration of each sector, details of key competitor
offerings, key players in the sector, potential for
partnering/alliances, critical external issues impacting the
sector
Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
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Output and
Results
Three-Year PlanStrategic Review
Insight Team
Formation
Measurable benefits from:
Tailored product launches, subscription based,
unique services, customer take-up analysis, better
targeted promotional efforts, decreased spend on
external suppliers, increased team productivity,
increased ROI and profitability and, ultimately,
commercial success
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Organizational Implications
It’s a two-way street ……. !!
Requires a well articulated statement of where the
organization wants to be in the future
Forward-thinking executives prepared to champion the
cause and be patient over when results can be expected
Willingness to live with ambiguity, learn and evolve
with the process
Appropriate resource allocation such as time, skilled
people with functional expertise to enable speedy
evaluation of Insight Team findings and timely
implementation of recommendations
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Dr Sheila Wright
Dr Sheila Wright PhD, MBA
Director
Strategic Partnerships Ltd
United Kingdom
Connect with Sheila via:
E-Mail:
sheila.stratpartners@aol.com
Phone: +44 (0)1945 701062
The Intelligence Collaborative is the online learning and networking
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more about Aurora at http://AuroraWDC.com – see you next time!
Strategic Partnerships Ltd
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COPYRIGHT AND MORAL
RIGHTS
In accordance with amongst other legislation, the provisions of The
Copyright Designs & Patents Act (1988) we hereby assert our right to be
identified as the authors of the work entitled How to Challenge Assumptions
and Surface Hidden Advantages Using a Cross-Functional Insight Team
All material provided is subject to copyright and may not be reproduced
without the prior permission of both authors, and should that permission be
granted, a clear identification and citation of its source will be required
Dr Sheila Wright and Dr Craig S. Fleisher
July 2013