Thought Leadership - its role in building competitive advantage
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Transcript of Thought Leadership - its role in building competitive advantage
Thought Leadership builds competitive advantage
Tuesday, 27 November 2012
Competitive Strategy How and where to compete?
Tuesday, 27 November 2012
The Elements of Competitive Strategy
Tuesday, 27 November 2012
The Elements of Competitive Strategy
Target Market
Tuesday, 27 November 2012
The Elements of Competitive Strategy
Target Market
Differentiation
Tuesday, 27 November 2012
The Elements of Competitive Strategy
Target Market
Differentiation Strategic Assets
Tuesday, 27 November 2012
Work in your “sweet spot” Market on expertise, not price
Tuesday, 27 November 2012
The Masterchef Challenge
Tuesday, 27 November 2012
The Masterchef Challenge
Utilize your unique ingredients
Tuesday, 27 November 2012
Strategic Assets
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
• “Path-dependent”
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
• “Path-dependent”
• Usually intangible
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
• “Path-dependent”
• Usually intangible
• Superior to those of competitors
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
• “Path-dependent”
• Usually intangible
• Superior to those of competitors
• Difficult for competitors to copy or acquire
Tuesday, 27 November 2012
Strategic Assets
• Unique to your firm
• “Path-dependent”
• Usually intangible
• Superior to those of competitors
• Difficult for competitors to copy or acquire
• Contribute to something that clients want
Tuesday, 27 November 2012
1.“Firm-specific” assets
Tuesday, 27 November 2012
1.“Firm-specific” assets
• Competencies, firm-wide skills
Tuesday, 27 November 2012
1.“Firm-specific” assets
• Competencies, firm-wide skills
• Organizational culture
Tuesday, 27 November 2012
1.“Firm-specific” assets
• Competencies, firm-wide skills
• Organizational culture
• IP, e.g. patents, licences
Tuesday, 27 November 2012
1.“Firm-specific” assets
• Competencies, firm-wide skills
• Organizational culture
• IP, e.g. patents, licences
• Systems
Tuesday, 27 November 2012
1.“Firm-specific” assets
• Competencies, firm-wide skills
• Organizational culture
• IP, e.g. patents, licences
• Systems
• Lines of capital
Tuesday, 27 November 2012
2.“Market-based” assets
Tuesday, 27 November 2012
2.“Market-based” assets
• Reputation
Tuesday, 27 November 2012
2.“Market-based” assets
• Reputation
• Brand awareness
Tuesday, 27 November 2012
2.“Market-based” assets
• Reputation
• Brand awareness
• Brand image
Tuesday, 27 November 2012
2.“Market-based” assets
• Reputation
• Brand awareness
• Brand image
• Relationships with customers, suppliers, distributors, referrers
Tuesday, 27 November 2012
What’s special and different about you?
and how can you enhance it?
Tuesday, 27 November 2012
Your “thought leadership” capability
can become a strategic asset
Here’s my proposition:
Tuesday, 27 November 2012
Thought Leadership defined:
Tuesday, 27 November 2012
Thought Leadership defined:• The term was first coined in 1994, by Joel Kurtzman, editor-in-
chief of the magazine Strategy+Business
Tuesday, 27 November 2012
Thought Leadership defined:• The term was first coined in 1994, by Joel Kurtzman, editor-in-
chief of the magazine Strategy+Business
• Thought leaders are individuals or organisations that are recognised by peers, customers and industry experts as someone who deeply understands the business they are in, the needs of their customers, and the broader marketplace in which they operate
Tuesday, 27 November 2012
Thought Leadership defined:• The term was first coined in 1994, by Joel Kurtzman, editor-in-
chief of the magazine Strategy+Business
• Thought leaders are individuals or organisations that are recognised by peers, customers and industry experts as someone who deeply understands the business they are in, the needs of their customers, and the broader marketplace in which they operate
• Thought leaders have a distinctively original idea, a unique point of view or an insight
Tuesday, 27 November 2012
In professional services
Tuesday, 27 November 2012
• A thought leader is a subject-matter expert who has unique insights or perspectives to share in his or her area of expertise.
In professional services
Tuesday, 27 November 2012
• A thought leader is a subject-matter expert who has unique insights or perspectives to share in his or her area of expertise.
• Their ideas are packaged in an accessible and attractive format, and may change the way people think, and sometimes even the future direction of an industry or community.
In professional services
Tuesday, 27 November 2012
Thought leadership is not...
Tuesday, 27 November 2012
Thought leadership is not...
• Pure information
Tuesday, 27 November 2012
Thought leadership is not...
• Pure information
• Pure opinion
Tuesday, 27 November 2012
Thought leadership is not...
• Pure information
• Pure opinion
• Pure criticism
Tuesday, 27 November 2012
Thought leadership is not...
• Pure information
• Pure opinion
• Pure criticism
• Just getting quoted
Tuesday, 27 November 2012
Thought leadership is not...
• Pure information
• Pure opinion
• Pure criticism
• Just getting quoted
• Just thinking
Tuesday, 27 November 2012
Thought leadership A sophisticated blend
Text
Tuesday, 27 November 2012
4 types of promotion(thought leadership could be a 5th)
• Advertising
• Public Relations
• Word of mouth
• Personal selling
Tuesday, 27 November 2012
An important distinction
Tuesday, 27 November 2012
An important distinction
Tuesday, 27 November 2012
An important distinction
• Advertising asserts your expertise
Tuesday, 27 November 2012
An important distinction
• Advertising asserts your expertise
• Thought leadership demonstrates your expertise
Tuesday, 27 November 2012
An important distinction
• Advertising asserts your expertise
• Thought leadership demonstrates your expertise
• If it looks, feels or smells like advertising, it’s not thought leadership!
Tuesday, 27 November 2012
The window of opportunity
Get on the client’s “short list”
Tuesday, 27 November 2012
4 steps to thought leadership
Tuesday, 27 November 2012
• Have a strategy
4 steps to thought leadership
Tuesday, 27 November 2012
• Have a strategy
• Find something interesting to say
4 steps to thought leadership
Tuesday, 27 November 2012
• Have a strategy
• Find something interesting to say
• Say it in an interesting way
4 steps to thought leadership
Tuesday, 27 November 2012
• Have a strategy
• Find something interesting to say
• Say it in an interesting way
• Leverage your work
4 steps to thought leadership
Tuesday, 27 November 2012
1. Have a strategy
Tuesday, 27 November 2012
2. Find something interesting to say
Tuesday, 27 November 2012
3. Say it in an interesting way
Tuesday, 27 November 2012
4. Leverage your efforts Get a bigger audience
Tuesday, 27 November 2012
Leverage your content
Tuesday, 27 November 2012
• Break it into bits
Leverage your content
Tuesday, 27 November 2012
• Break it into bits
• Expand it
Leverage your content
Tuesday, 27 November 2012
• Break it into bits
• Expand it
• Deliver it in different ways
Leverage your content
Tuesday, 27 November 2012
• Break it into bits
• Expand it
• Deliver it in different ways
• Use different media
Leverage your content
Tuesday, 27 November 2012
• Internet provides potentially huge audience
• Publish via Blog, Twitter, LinkedIn, relevant web sites
Leverage your time
Tuesday, 27 November 2012
Leverage your effortsGet your work in front of
more peopleSay it in an interesting way
Expand with models, metaphors and content
Find something interesting to say
Create your contentHave a strategy
How do you want to be positioned?
Your Thought Leadership Plan
Tuesday, 27 November 2012
How does thought leadership build
competitive advantage?
Tuesday, 27 November 2012
Thought Leadership Positions you as the expert
Tuesday, 27 November 2012
Thought leadership builds reputation and
relationships
(and these are strategic assets)
Tuesday, 27 November 2012
Attract clients instead of chasing them
Tuesday, 27 November 2012