Frequently Asked Questions:
1. How does the Global Industry DashboardTM make business unit planning so much easier and better?
2. How does the Global Industry DashboardTM make corporate planning so much easier and better?
3. How does the Global Industry DashboardTM make competitive intelligence so much easier and better?
4. What industry data do you provide; and how is this information developed given that companies do not generally provide information at the true industry level?
5. How does the Global Industry DashboardTM simplify market segmentation?
6. Who is Michael E. Porter; and why are his competitive strategy methodologies taught around the world?
ANSWERS:
1. How does the Global Industry DashboardTM make business unit planning so much easier and better?
Business Unit Planning, when done currently, includes an objective industry analysis, as well as details on the strategies, activities, financials, and other related information that will make the business unit as successful as possible in terms of its corporate-driven mission.
The Global Industry Dashboard provides a large portion of the objective industry analysis, and a small portion of the business unit information in terms of its current market position.
2. How does the Global Industry DashboardTM make corporate planning so much easier and better?
Corporate Planning is made simple when using the Global Industry DashboardTM. Just enter your company name, and presto; the corporate planning framework for your company is presented. The list of industries your company competes in provides the foundation; and the Global Industry Dashboard conveniently links each industry with its respective industry analysis.
This is vital because the first and most important question that needs to be addressed when starting or revisiting corporate strategy is, "What businesses are you in?" In practice, it is emotionally difficult for many executives to accept the fact that they might not instantly know the answer to a question that appears so simple. And the answer often changes with time as new industries are created.
3. How does the Global Industry DashboardTM make competitive intelligence so much easier and better?
Competitive intelligence typically involves comparing your business with traditional and non-traditional competitors. Theoretically, a business unit should perform business unit competitive analyses, and the corporate planning department should perform corporate multipoint competitor analyses.
The Global Industry Dashboard covers all industries, simplifying competitive-intelligence activities for business units and companies competing in many industries. Regardless of how wide a net your company wants to analyze current and potential competitors, the Global Industry Dashboard covers all industries.
The Global Industry Dashboard uniquely provides competitive information focused on identifying which companies (subsidiaries and brands) compete in which industries with estimates of market share and annual revenue for the current year. Our service should be viewed as the core foundation of CI intelligence that fully supports corporate planning efforts and is also complementary to other types of CI services which provide competitive intelligence information in terms of news or activity comparisons, which we do not provide.
For an excellent theoretical overview on how to develop a comprehensive competitor intelligence system, refer to the book Competitive Strategy, by Michael E. Porter.
4. How does eCompetitors develop information given that companies rarely provide information at the true industry level; and how financially reliable is it?
Even though we believe the Global Industry Dashboard is the best knowledgebase in the world in terms of strategically relevant industry and company information, it does not provide 100% financially reliable data because companies rarely publish financials at the true line-of-business level. We are not in the business of simply accessing and reformatting company provided data. Our industry research team analyzes each and every company and manually enters the information into our knowledgebase which is the foundation of the Global Industry Dashboard.
5. How does the Global Industry DashboardTM simplify market segmentation?
The Global Industry Dashboard simplifies both industry segmentation and market segmentation.
The purpose of industry segmentation, which includes market segmentation, is to divide an industry into its strategically relevant parts, in terms of both product varieties and buyer types, and to locate each competitor in the industry segments in which they currently compete. With a clear and objective view of the competitive playing field, it is a much easier job for business unit managers to select and to prioritize which segments to compete in.
For planning purposes, the buyer types for each corporate business unit should reflect the strategically relevant buyer types for each unique industry, even if the company, as a whole, has chosen a set of buyer types to target.
The Global Industry Dashboard lists the most strategically relevant industry buyer types and the most strategically relevant product varieties served by competitors.
A detailed analysis for building an industry segmentation matrix is presented in Michael E. Porter's book Competitive Advantage.
6. Michael E. Porter: who is he; and why are his competitive strategy methodologies taught around the world?
Michael E. Porter is the business strategy guru of our time. He is a Bishop William Lawrence University Professor at Harvard Business School; and his strategic planning methodologies are taught around the world.
As a necessary part of our quest to develop the best strategically relevant dashboard of the global economy, we routinely analyze and test ideas of leading experts. From our hands-on experience, we believe Michael E. Porter is by far the leading authority in the field. We have found the books below especially useful; and we believe that those who appreciate Michael Porter's excellent work will most appreciate the value of the Global Industry DashboardTM.