In the face of aggressive competition, management reacts in one of two ways – they panic or fall asleep.
Are You Under Seige?
All companies have some form of competition and competition can be intense. Companies can feel like they are ALWAYS getting pummeled in the marketplace. A company’s competitive position is determined by its posture vis a vis their competitors; the posture can be influenced by the company’s “self esteem.”
Stuck in Traffic is not about the existence of competition…
…it is about how companies react to competition.
The entrance of new aggressive competitors into an existing market or new threats posed by long standing competitors can be a blessing or a curse depending on how you respond to it.
I’ve invented a complicated test that can quickly determine if a company is Stuck in Traffic; it must be implemented with precision to get the best results.
It’s called The Stuck in Traffic Needle Test.
The Needle Test Instruction Manual
Look at the needle and determine its position:
Is it on Panic? If the answer is YES, then you are Stuck in Traffic.
Is it on Siesta? If the answer is YES, then you may or may not be Stuck in Traffic.
Is it on Alert? If the answer is YES, you are NOT Stuck in Traffic.
Those companies with low self esteem tend towards the Panic Mode. Panicking means your response to new aggressive competition is implementing frantic moves that are grounded in fear. Instead of reacting in unnecessary haste, calm down, think strategically, maintain your focus and choose your responses carefully. Understand the new competitive dynamics; leverage your reactions using your pockets of strength and shore up the weaknesses that need to be fixed.
It really isn’t necessary to ramble on too much about the Siesta mode. Arrogant companies may fall into Siesta Mode and ignore or not recognize the competition (real and emerging).
If asleep, then the competition can simply sneak up and pounce.