Organizations turn to different sources of gaining Competitive Advantage and outperforming their rivals. In the past, leading multinationals with diverse portfolio of product or service offerings used to have assets, positions, and economies of scale serve them as sources of sustainable Competitive Advantage.
However, nowadays, leading industry players focus more on developing distinct, sustainable capabilities. They strive to build a single formidable Value Proposition, based on a limited number of supporting competencies.
During the course, they essentially transform their entire organizations. These market leaders are dubbed “Super competitors,” owing to their unique competencies, influence, and the ability to alter the dynamics of their industries. To build unique competencies, Super-competitors use the right blend of processes, systems, insights, dexterities, and resource configuration spanning multiple units.
Competing with Super-competitors necessitates other players to reorganize their portfolio, thoroughly evaluate the industry, and focus on the value propositions a particular organization excels in, to achieve growth.
There are 4 critical elements that leaders need to focus on to conduct a detailed evaluation of the potential of businesses to evolve to Super-competitors in an industry. These 4 elements are:
1. Industry Analysis – Leaders need to answer some key questions to evaluate their industry and analyze their organization’s Supercompetitor potential.
2. Supercompetition Analysis – This element deals with analyzing rivals in terms of their potential to become the next Supercompetitors.
3. Future State Assessment – To become a Supercompetitor, leaders need to determine which model their organization should adopt to unlock maximum potential benefit in future.
4. Strategic Plan Development – When competing with Supercompetitors or aspiring to become one, the last critical element is to develop a strategic plan to invest in building key capabilities required to succeed in future and reinforcing them.
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