Compete Smarter, Not Harder

How to compete in the right space for greater profitability and growth The Internet, mobile technology, the ubiquity of information and the availability of big data have dramatically increased the speed and impact of success and failure. Companies today know that they must be competitive, but precisely where, and more importantly how, to compete is not always easy to identify—until now. Compete Smarter, Not Harder explains how to prioritize market opportunities so that a company's strengths in one area can be leveraged across multiple markets. Using cutting-edge academic research and extensive industry practice, author William Putsis outlines the strategic decisions needed to determine which space provides the best margins, overall profitability, and growth potential. Details a step-by-step process for strategic prioritization, from strategic market selection to the tactics of execution, providing competitive advantage across markets Written by Doctor William Putsis, a professor of marketing, economics, and business strategy at the University of North Carolina at Chapel Hill, who has consulted and led executive development efforts with leading companies throughout the world Prioritize with conviction. Make absolutely sure that all of your hard work goes toward the right space.

Introduction 3 CHAPTER 1 The Importance of Fundamentals 15 CHAPTER 2 Finding the Right Market Opportunities 37 CHAPTER 3 Managing the Risk of Growth 51 CHAPTER 4 Choosing and Competing Effectively in the Right Space 65 CHAPTER 5 Targeting the Right Customers in the Right Space with the Right Offering 81 CHAPTER 6 Understanding Your Customers in the Right Space 115 CHAPTER 7 Vertical Incentive Alignment and Asset Specificity 137 CHAPTER 8 Setting Tactics in Today’s Environment 153 CHAPTER 9 What Is So Different about Today? Conclusions and Lessons for the Future 177 Notes 193 Index 205