Competition is omnipresent in the online-age and ruthlessly practiced in the global trenches. No company, anywhere, can escape! What does that mean for a mid-sized firm? It means they must be relentless in pursuit of advantage. Lapointe & Cimon, make the case for competing based on intangibles (2009, Journal of Business Strategy). The point being, intangibles are hard to copy and potential represent a significant differentiated market position – think value creating activities.
Competing on intangibles relies heavily on the concept of knowledge management (KM) and its application. Think; what is your company learning, how does learning or could learning change things for you and your customers, can it be adopted and made part of a value process?
Everything about your company has a knowledge element about it. Everything from how you answer the phone, to your supply-chain, to your culture — all intangible competitive value generating activities. So, the challenge is, what did you learn today and are you going to do anything about it?
If you would like learn more about how this concept applies in 2015, give me a call at 919-600-6097.
Reference(s): Lapointe, Alain, and Yan Cimon. “Leveraging Intangibles: How Firms Can Create Lasting Value.” Journal of Business Strategy4 (2009): 40-48. Web. 28 Aug. 2015.
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