| From the Editor's Desk
Your Competitors Arent Always Who You Think They Are When it comes to strategy, one way to meet radically new expectations in your industry is to draw from the impressive and surprising strategies that are being used in other industries. Why can’t interacting with an insurance company be as responsive and transparent as interacting with Uber? Why can’t checking into a hospital be as seamless as checking into a hotel? These are the sorts of questions that more and more customers are asking, and the questions that a winning business strategy must answer. You won’t find those answers if you limit your strategic vision to what other companies in your field are doing. Remember, your competitors aren’t always who you think they are.
Most executives think they know who they’re competing against — the major firms in their field or entrepreneurial “ankle biters” with a new technology or business model. But what happens when your competitors aren’t who you think they are? Specifically, how do you devise a winning business strategy when you are competing not just against incumbents or upstarts from your industry, but against the ever-changing expectations of your customers, whose encounters with products and services reach far beyond the established boundaries of your industry?
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Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. |
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