In the constant battle to keep up with the competition, managers often react immediately to other’s tactics by rolling out similar tactics of their own. Instead of thinking strategically about their next moves, they abandon the plan and step up to the wheel to play another round of tactical roulette. Their aim is to reduce the perceived gap between what the competition is doing and what they are doing. Little do they realize that the gap is the… READ MORE

As Borders began shuttering their roughly 400 remaining stores, company president Mike Edwards said, “We are saddened by this development. We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time…have brought us to where we are now.” A heartfelt statement that craftily shifts the blame for their demise to external factors known as “headwinds”. Let’s call the downfall what it really… READ MORE

Borders filed for Chapter 11 bankruptcy protection this week (“Borders Begins a New Chapter…11″). The reasons ranged from price battles with internet retailers like Amazon.com to carrying too much debt. But the real problem was a lack of strategy. Like so many other companies that experience early success and then falter, Borders failed to evolve their strategy over time based on the changing competitive landscape and customer value… READ MORE

British artist Damien Hirst has his fans and his critics. What can’t be argued is his ability to differentiate himself and his work through a well-conceived strategy that has jolted the business world of art. While his art works such as “The Physical Impossibility of Death in the Mind of Someone Living,” featuring a shark in a tank of formaldehyde, have caused great debate on what is or is not art, he has transformed a century-old business… READ MORE

Feel like you’re trapped in a cage with your competitors? Too close for comfort? Clawing at each other day in and day out? Inevitable? Hardly. But you’re not alone. In 1934, Moscow University professor G. F. Gause published the results of a landmark study. He placed small animals in a bottle with an ample amount of food. If the animals were of the same genus and a different species, they were able to live together peaceably. However, if the… READ MORE

If you’ve ever dreamt of men wearing red flower pots on their heads, you’ve probably seen a Devo video. Harken back to 1980 and their hit “Whip It,” and you can see and hear why they stood out from the crowd. Fast forward to present day and they’re still standing out, sans flower pots. In USA Today, music reviewers Edna Gundersen, Elysa Gardner, Jerry Shriver and Steve Jones give their new CD “Something for Everybody,” three out of four stars… READ MORE

We’ve determined where we’re currently investing our resources and what’s happening relative to the context of our business in the four areas of market, customers, competitors and company. Now it’s time to identify the differentiated value we provide to customers and allocate resources accordingly. A great deal of resource allocation goes like this: “Here’s what we did last year. Here’s our budget for this year. Guess we can do the same… READ MORE