As more large public companies such as Borders and Blockbuster file for bankruptcy, it’s apparent that Chinese general and philosopher Sun Tzu’s words nearly 3,000 years ago still haven’t sunk in: If you know your enemies and know yourself, you will not be imperiled in a hundred battles. According to research by Paul Carroll and Chunka Mui, the number one cause of bankruptcy is bad strategy. Inherent in bad strategy is ignorance of your… READ MORE

“If you are not genuinely pained by the risk involved in your strategic choices, it’s not much of a strategy.” Reed Hastings, CEO of Netflix Think you have a tough group of competitors to deal with? Take a look at this list and see if you’d like to trade: Walmart, Amazon, Blockbuster and Apple. Any takers? So how does one not only compete with the likes of Walmart, Amazon and Apple but actually win? By creating a strategy that is truly… READ MORE

What is your competitive advantage? If you’re not able to answer this question, there’s a good chance you don’t have one. And if you don’t have one, there’s the distinct possibility that your company won’t be around much longer. We can break competitive advantage into three areas, starting with your capabilities. What are your key resources, assets and core competencies? Next, what are the primary activities you perform to mold and shape those… READ MORE