Can you name your future competitive advantage?

A thought-provoking piece of advice on page 70 of Insurgence by Matthew Tice.??

Matthew writes that incumbent firms often fall into a “capability trap”, where their primary objective becomes the preservation and extension of an existing capability within an existing business model.?

“In unstable market contexts this becomes a significant risk,” he says.???

Like the failed Blockbuster video chain, they focus inwardly, trying to discover new ways to employ existing capability. And this often blinds them to the question:??

“What capabilities will propel our future competitive advantage?” (i.e. distinctive capabilities)?

REFLECT:??

Ask yourselves: Are we holding our business model constant, focusing on sticking to the core business? Can you name avenues for possible future competitive advantage??

TAKE ACTION:??

Look for new customer problems to solve with new sets of capabilities. Build new “distinctive capabilities” to provide this new source of competitive advantage.??

BE INSPIRED:??

"The preference of consumers…is changing towards ‘Give me what I want, when I want it, and how I want it.” – Matthew Tice, author of Insurgence??

Let's keep learning together,?

Karen Beattie?