Strategy and Competitive Intelligence by Bonnie Hohhof
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Random Word Brainstorming: A Simple, Powerful and Effective Ideation Technique

Random Word Brainstorming: A Simple, Powerful and Effective Ideation Technique | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it
Word lists, because of their simplicity, are often overlooked as a tool for brainstorming. That's too bad, because they can be quite powerful and are very easy to use.
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Strategy and Competitive Intelligence by Bonnie Hohhof
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Pharma's increased need for competitive intelligence

Pharma's increased need for competitive intelligence | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Competitive intelligence can offer huge benefits to pharma companies, especially in personalized medicine where market trends are continually shifting. In a world where available data grows by the second, Steve Vitale of Diaceutics AIS examines how it can be used to optimise expertise and understanding in order to gain an edge. (requires registration)

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What is Your Strategy’s Big Idea?

What is Your Strategy’s Big Idea? | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it
Crown and Disney are examples of what occurs when a company’s strategy drifts away from the big idea that made it a great one. Something similar happens when the big idea that once powered a great strategy is no longer “big.”
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The Surprising Secret of Business Resilience

The Surprising Secret of Business Resilience | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Executives dream of insulating their companies from all risks, both natural and manmade, making their company’s revenues impervious to the vicissitudes of a capricious world. This is also the implicit goal of most business strategies, achieved through the use of resource control through vertical integration, supplier dominance through buying power, persuasive political influence through lobbying and campaign finance, and of course, good ol’ market monopolies, among other things. The idea is that by gaining control of your destiny, you foster complete commercial independence. This dream is popular, but it is, of course, a fallacy. The surprising secret is that dependence, not independence, is the way to protect the organization against risks.

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Analytics with a strategic edge

Analytics with a strategic edge | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

The problem isn’t that too much analytics is weighted toward tactical issues, it’s really that strategic decisions don’t use analytics at all. The biggest, most important decisions in the digital enterprise nearly always lack a foundation in data or analysi

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Three Surprising, Science-Backed Ways To Improve Your Decision Making

Three Surprising, Science-Backed Ways To Improve Your Decision Making | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

 researchers say a surprising range of stimuli can impact how we make choices. There's probably no way to avoid making poor choices altogether, but we might be able to make better ones a bit more often—even with some unexpected methods. Here's a look at three scientific findings that suggest offbeat but potentially effective ways to improve your decision making.

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Six Easy Ways to Better Competitive Intelligence Project Delivery

This exchange happens all too often between managers who need solid insight to answer immediate strategic questions and competitive intelligence providers who uncover and deliver the answers. In a hurry to get the information, data requesters pressure CI service providers, whether they are part of an internal CI function or an outside research supplier, with impractical timeframes and a whole host of unrealistic expectations. The “need it yesterday” perspective can defeat the very purpose of competitive intelligence—to produce a real effect on the bottom line. Competitive intelligence should always save or make either time or money. Any information that does not contribute to meeting at least one of these goals is a waste of both. In order to do so, consider the following guidelines:

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Trade Secrets v. Patents: Considerations in Choosing How to Protect Your IP

Trade Secrets v. Patents: Considerations in Choosing How to Protect Your IP | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Intellectual property owners may seek to protect certain information either by obtaining a patent or by maintaining its secrecy. A patent provides strong, exclusive rights for a fixed period of time, generally twenty years. A trade secret may last indefinitely but protection can be lost through independent development, reverse engineering, or failure to maintain secrecy. (We previously published a chart comparing the features of patents and trade secrets.) This article discusses those instances when trade secret protection may be superior to patent protection. 

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A Refresher on Marketing Myopia

A Refresher on Marketing Myopia | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

many company leaders, including executives, have what’s called marketing myopia—a nearsighted focus on selling products and services, rather than seeing the “big picture” of what consumers really want. I talked with John Deighton, a professor at Harvard Business School and an authority on consumer behavior and marketing, to better understand this classic concept, its origins, and its relevance to organizations today.

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Businesses aren't ready for the digital age, suggests research

Businesses aren't ready for the digital age, suggests research | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

The digital future has taken the corporate world by storm, but many employees are jumping ship. A new study by MIT Sloan Management Review, in collaboration with Deloitte, finds that only 44% of managers and executives believe their company is adequately prepared for digital disruption. Worse, 50% of employees who believe their company is lagging behind in digital innovation plan on leaving that company within a year. In the report, MIT Sloan and Deloitte identified a number of key characteristics that define digitally adaptive companies, such as a cohesive corporate culture and an eagerness to take on risk. The report paints a picture of a new kind of company for the digital age, one that values flexibility and talent, one that can pivot and adapt quickly. These will be the successful new corporations. Slower, more unwieldy competitors are being left behind.

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Why Are We Still Classifying Companies by Industry?

Why Are We Still Classifying Companies by Industry? | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

So instead of focusing on vertical industries, it’s time to look at business models instead. To help begin this transformation, our research discovered four simple ways that companies create growth and value: Business models are a better way to think about what firms do now.

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Daniel Cohen's curator insight, August 22, 5:58 AM
Another great article from HBR, I am an Asset Builder, I make and sell physical things.
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Why Companies Can’t Turn Customer Insights into Growth

Why Companies Can’t Turn Customer Insights into Growth | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

these companies are experimenting with predictive methods for anticipating customers’ behavior, and they are evolving customer insight (CI) functions that can provide more relevant recommendations and ongoing execution support. Integrating a CI function into a company’s core processes and decision making has proved to be extremely difficult. Our research has found that most companies struggle to make CI more than just a traditional market research operation. Those that succeed in elevating CI to a strategic position do so only with the commitment of their top executives. . Most CI functions report too low in the hierarchy and have too many constraints.

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How to Tackle Your Toughest Decisions

How to Tackle Your Toughest Decisions | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

the toughest calls come in the gray areas—situations where you and your team have worked hard to gather the facts and done the best analysis you can, but you still don’t know what to do. It’s easy to become paralyzed in the face of such challenges. Yet as a leader, you have to make a decision and move forward. Your judgment becomes critical. Judgment is hard to define. It is a fusion of your thinking, feelings, experience, imagination, and character. But five practical questions can improve your odds of making sound judgments, even when the data is incomplete or unclear, opinions are divided, and the answers are far from obvious.

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The Maturation of Competitive Intelligence in Law Firms

The Maturation of Competitive Intelligence in Law Firms | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it
he desire to compete and learn all you can about your competition has been around ever since capitalism first crawled on its belly out of the oceans. The maturation of meaningful competitive intelligence functions in the rapidly evolving world of law firm administrative operations is more about the proliferation of useful tools than it is anything else. Those tools just happen to have become widely available at a point in time when market conditions have amped up competition between law firms to levels unforeseen before the tsunami of the Great Recession.
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The Lost Art of Thinking in Large Organizations

The Lost Art of Thinking in Large Organizations | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

once executives are promoted to a senior level, these new business leaders must be able to think strategically. Ironically, the very skills in execution that led to their promotions often make these executives ill-equipped for their new roles, since their strategy thinking muscles have withered from disuse. The goal of strategic thinking is to find strategic insights. Strategy is all about choices — about which markets to compete in and which markets to avoid. Strategic insights describe the boundaries separating attractive markets from unattractive markets.

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How Scenario Planning Influences Strategic Decisions

How Scenario Planning Influences Strategic Decisions | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

empirical evidence of the effect of scenario planning on executive judgment is almost nonexistent. That fact is surprising, considering not only that executives use this method to make important decisions, but also that the method requires extensive resources. What’s more, the few experimental studies of scenario planning that have been conducted reach conflicting conclusions. To examine whether scenario planning produces measurable benefits, we conducted several workshops, examining whether — and how — the practice of scenario planning would influence various experts making long-term investment decisions.

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The state of start-up/ corporate cooperation

a new study by MassChallenge and Imaginatik describes an alternative worth considering. “Corporate executives see enormous potential to innovate by working with early-stage ventures,” says Imaginatik CMO Chris Townsend. “The exact approaches are evolving constantly, but the trend is clear: Startup/corporate collaboration is becoming critical.”

Instead of buying or investing in startups, the study finds that established companies are increasingly entering “flexible, early-stage, open-ended partnerships” with them. The key to these partnerships is strategic intent

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The One Skill that Innovators Forget -- communication

The One Skill that Innovators Forget -- communication | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

But to create that network of connections between idea fragments, you need to involve lots of people in the ideation process. That’s where crowdsourcing comes in: you bring in the crowd who can share and validate and connect with one another’s ideas. But the crowd doesn’t just arrive on the innovation scene. They need to be invited, excited, and incentivized and to be truly successful, you need a pretty big crowd in order to enjoy all the benefits of crowd wisdom. Which means that innovators who have been cultivating other traits (like creative risk taking, positive reinforcement, etc) need to also learn how become creative communications specialists capable of broadcasting worthwhile messages to large audiences. This sort of savvy doesn’t happen overnight, however, and IdeaScale recommends starting with at least four main channels of communication to get the crowd involved.

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The 12 Best Competitive Intelligence and Benchmarking Tools

The 12 Best Competitive Intelligence and Benchmarking Tools | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

When evaluating the results of marketing and PR efforts, it’s vital to consider two perspectives: what is the trend of results (e.g., increasing social engagement, website traffic over time, etc.) and how do your results compare to your closest competitors? Top compeititve research, intelligence and benchmarking toolsThere are a wide range of monitoring, listening, and analytics tools available to answer the first type of question. To answer the second, here are the 12 best tools for comparing your brand’s performance to your top competitors in terms of web traffic, social media brand mentions, target keywords, online advertising, organic search visibility, and other factors.

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Watch Out for this Pitfall in competitive intelligence

Watch Out for this Pitfall in competitive intelligence | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

“the persistent failure, on the part of both policy-makers and analysts, to see a situation as the target state sees it.” This failure, sometimes called mirror imaging, is caused the assumption, by analysts as well as by their end-users, that the people being studied will necessarily think and will act like the analysts/end-users themselves would.

The same situation exists in CI.

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To Reduce Complexity in Your Company, Start with Pen and Paper

To Reduce Complexity in Your Company, Start with Pen and Paper | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Without the pressure to move quickly and make decisions fast with imperfect information, it is all too easy for the balance between pressing forward into the future and exploiting the current situation to get out of whack. The focus becomes internal, politics take over decision-making, senior leaders are not told the bad news they need to hear, technical experts’ voices are not heard and, for reasons nobody can quite put a finger on, everything seems to be moving at a leaden pace.

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The Lesson Behind Fortune's 'Change the World' List

The Lesson Behind Fortune's 'Change the World' List | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

As this year’s Change the World List demonstrates, more and more corporate leaders are embracing a new best practice with profound implications for their companies and the wider world. In increasing numbers, managers are integrating societal needs into their corporate strategy, aligning their companies’ business missions with their impact on their communities and the environment. This approach, which we call Creating Shared Value, is moving into the mainstream and growing exponentially.

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Ellen Naylor's curator insight, August 22, 10:25 AM

Improving competitiveness by creating socially responsible products. Is this a new trend? 

Ian Berry's curator insight, August 24, 6:45 PM
Creating Shared Value is an action item for all leaders serious about thriving on the challenges of change
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Of Course Nobody Saw Brexit or Donald Trump Coming

Of Course Nobody Saw Brexit or Donald Trump Coming | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

recently ran a scenario-based strategic planning engagement with a European online entertainment company. In it, we created five future, plausible scenarios that described what the external operating environment could look like for our client in the next five to seven years.  Of course, the purpose of scenario planning is not to predict the future, but to be ready for it no matter what it brings. We create a set of plausible future “worlds” as a precursor to strategic planning, enabling our client to take into consideration multiple future conditions – extreme consolidation, industry fragmentation, value-chain shifts, etc. – that it could encounter. Preparedness, not predictability, is the mantra of scenario planning.

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This Fun Animated Short Imagines a World in Which Dust Bunnies Are Alive (Video)

This Fun Animated Short Imagines a World in Which Dust Bunnies Are Alive (Video) | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

This inventive animated short film imagines a world in which dust bunnies are alive.

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How can company culture and structure empower employees to innovate? | EY Better Working World

How can company culture and structure empower employees to innovate? | EY Better Working World | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

To foster innovation, companies must establish a culture that embraces failure, cultivates talent and empowers employees with autonomy and creative freedom. However, this is no easy task — regardless of whether your business is a small start-up or a large corporation. So how can companies nurture innovation in order to grow?

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Streamlining competitive intelligence

Streamlining competitive intelligence | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

For this week only, "Streamlining Competitive Intelligence" is on demand. (requires registration)

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