Management Tip of the Day: Compete to be unique

Monday, 5 August 2013 00:23 -     - {{hitsCtrl.values.hits}}

Reuters: How you think about competition will define the choices you make and your ability to assess those choices critically, says Harvard Business Review. “Most companies want to be the best at what they do. But in the vast majority of business, there is no such thing as “the best.” Trying to imitate rivals will get you nowhere: It’s impossible to do exactly what your competitors are doing and end up with superior results. Customers choose different products and services for different reasons, and it’s unlikely you’ll win them all. Instead, focus on creating superior value for the customers that choose your company. Doing this profitably means accepting limits and making tradeoffs-you can’t meet every need of every customer. Don’t set out to win a war. Instead find your audience and capture their attention and loyalty.” Today’s management tip was adapted from “Stop Competing to Be the Best” by Joan Magretta.

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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.