{"id":6769,"date":"2019-02-07T13:46:33","date_gmt":"2019-02-07T13:46:33","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=6769"},"modified":"2019-02-07T13:46:33","modified_gmt":"2019-02-07T13:46:33","slug":"whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive\/","title":{"rendered":"What&#8217;s Your Competitive Advantage? 7 Strategies Businesses Can Use To Thrive"},"content":{"rendered":"<figure id=\"attachment_6772\" aria-describedby=\"caption-attachment-6772\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-6772\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2019\/02\/competitive-advantage.jpg\" alt=\"What's Your Competitive Advantage? 7 Strategies Businesses Can Use To Thrive\" width=\"800\" height=\"534\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/competitive-advantage.jpg 1181w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/competitive-advantage-300x200.jpg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/competitive-advantage-768x513.jpg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/competitive-advantage-1024x684.jpg 1024w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-6772\" class=\"wp-caption-text\">What&#8217;s Your Competitive Advantage? 7 Strategies Businesses Can Use To Thrive<\/figcaption><\/figure>\n<p>We live in a complex world. Political uncertainty, emerging disruptive technologies and socio-economic pressures all combine to create an environment where predicting, and planning for the future is one of the biggest challenges business leaders face today.<\/p>\n<p>The reality is that managers actually have very little control over any factors a\ufb00ecting their organisation, so they need to work with complexity, rather than pretend it isn\u2019t there. So how is it possible to build a strategy that provides a clear overall direction for a business, regardless of uncontrollable, changing circumstances?<\/p>\n<p>After a 10-year research project, leading business consultants Professor Cli\ufb00 Bowman and Dr Paul Raspin have identi\ufb01ed the 7 key strategies that have allowed both new and established businesses to thrive through uncertainty. In their practical new book, <em>What\u2019s Your Competitive Advantage?<\/em>, they provide a guide to successfully implementing and creating lasting value through each approach, with real-life case study examples, including:<\/p>\n<ul>\n<li><strong>Specialisation:<\/strong> The ability to focus on a single product or service group and compete through superior product performance e.g. WD40 is purchased by 4 out of 5 American households for a specialist purpose<\/li>\n<li><strong>Adaptive:<\/strong> Increasing the organisation\u2019s ability to respond to changing circumstances and customer needs e.g. Zara only manufacture clothes where they know there is customer demand<\/li>\n<li><strong>Low-cost:<\/strong> Delivering equivalent product quality to competitors, but with a relentless focus on cost-reduction e.g. Bavaria Yachts combine<br \/>\nprecision engineering, automation and robotics to deliver quality yachts at signi\ufb01cantly lower cost than its rivals<\/li>\n<li><strong>Innovation:<\/strong> Targeting those customers who are willing to pay a premium for products and services that meet their needs in novel and superior ways e.g. SpaceX\u2019s commitment to developing re-usable rockets to reduce cost of interplanetary space travel.<\/li>\n<li><strong>Excellence:<\/strong> Embedding professionalism in the system to create continuous incremental improvements in product or service quality e.g. Lexus\u2019 engineering project enabled the brand to go from zero presence in the luxury car market to parity with European manufacturers.<\/li>\n<li><strong>No frills:<\/strong> Focusing on serving price-sensitive customers with a stripped down alternative product or service e.g. ALDI o\ufb00ering just the products that price-sensitive customers value.<\/li>\n<li><strong>Targeting:<\/strong> Serving the needs of one speci\ufb01c market segment more e\ufb00ectively than less focused rivals e.g. Long Tall Sally producing clothes only for taller women, using their understanding of what it means to be a tall woman to be their \ufb01rst choice for fashion.<\/li>\n<\/ul>\n<p><em>What\u2019s Your Competitive Advantage?<\/em> not only helps readers to identify what strategy would be right for a business, but also outlines the cultural, structural and systems requirements for successfully following each approach. It goes beyond the theory of business strategy to provide practical, accessible guidance on how to turn strategy into action, through leading practices that evolve as events unfold.<\/p>\n<h2>The Authors<\/h2>\n<p><strong>Cli\ufb00 Bowman<\/strong> is a Professor of Strategic Management at Cran\ufb01eld School of Management. His research interests focus on the creation and capture of value in, complexity, dynamic capabilities, strategy processes and the development and leveraging of strategic assets. He is the author of twelve books.<\/p>\n<p><strong>Dr Paul Raspin<\/strong> is the founder and Managing Director of Stratevolve, a strategy consultancy that works exclusively with senior executives and management teams to identify how to gain competitive advantage and create and capture signi\ufb01cant value. He is a senior visiting fellow at Cass Business School where he teaches strategy and \ufb01nance to senior executives on the Executive MBA course.<\/p>\n<hr \/>\n<figure id=\"attachment_6770\" aria-describedby=\"caption-attachment-6770\" style=\"width: 180px\" class=\"wp-caption alignleft\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-6770\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2019\/02\/whats-your-competitive-advantage.png\" alt=\"What's your competitive advantage?\" width=\"180\" height=\"264\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/whats-your-competitive-advantage.png 411w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/whats-your-competitive-advantage-239x350.png 239w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/whats-your-competitive-advantage-204x300.png 204w\" sizes=\"(max-width: 180px) 100vw, 180px\" \/><figcaption id=\"caption-attachment-6770\" class=\"wp-caption-text\">What&#8217;s your competitive advantage?<\/figcaption><\/figure>\n<ul>\n<li>What&#8217;s your competitive advantage?<\/li>\n<li>By <strong>Cli\ufb00 Bowman <\/strong>and\u00a0<strong>Dr Paul Raspin<\/strong><\/li>\n<li>Out Now<\/li>\n<li>Published by <strong>FT Publishing<\/strong><\/li>\n<li>Paperback Version: 21.99<\/li>\n<li>ISBN: 978-1292259390<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We live in a complex world. Political uncertainty, emerging disruptive technologies and socio-economic pressures all combine to create an environment where predicting, and planning for the future is one of the biggest challenges business leaders face today. The reality is that managers actually have very little control over any factors a\ufb00ecting their organisation, so they [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":6772,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3513],"tags":[4610,4624],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What&#039;s Your Competitive Advantage? 7 Strategies Businesses Can Use To Thrive - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"Leading business consultants Professor Cli\ufb00 Bowman and Dr Paul Raspin have identi\ufb01ed the 7 key strategies that have allowed businesses to thrive\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What&#039;s Your Competitive Advantage? 7 Strategies Businesses Can Use To Thrive\" \/>\n<meta property=\"og:description\" content=\"Leading business consultants Professor Cli\ufb00 Bowman and Dr Paul Raspin have identi\ufb01ed the 7 key strategies that have allowed businesses to thrive\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-07T13:46:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2019\/02\/competitive-advantage.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1181\" \/>\n\t<meta property=\"og:image:height\" content=\"789\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/whats-your-competitive-advantage-7-strategies-businesses-can-use-to-thrive\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"What&#8217;s Your Competitive Advantage? 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