Almost everyone in construction seems to struggle with how to differentiate their business from their competitors, because too many buyers of construction services think the service is a commodity and buy on price.
To help address that problem I recommend that you purchase Rita Gunther McGrath new book that is coming out in June, entitled The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as Your Business. I’m sure many wonder why am I recommending someone else’s book that I haven’t even read?
First, Ms. McGrath is considered one of the top strategists in the world. So she is someone we all can learn from. I know I have. I’ve read two of her other books and found them extremely valuable. The first is Discover-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity. In fact, I conducted a radio interview with her on this topic at NCS Radio. If you would like to listen to the interview to gain better insight on her thinking, go to:
The second book is Marketbusters, which I have written several blogs on concerning her Attribute Map. While the Attribute Map concept is only a small part of the book, which has wealth of information, it further demonstrates her thinking. If you haven’t read those blogs already, their links are listed below.
“Are you at risk of being trapped in an uncompetitive business? Chances are the strategies that worked well for you even a few years ago no longer deliver the results you need. Dramatic changes in business have unearthed a major gap between traditional approaches to strategy and the way the real world works now. In short, strategy is stuck. Most leaders are using frameworks that were designed for a different era of business and based on a single dominant idea–that the purpose of strategy is to achieve a sustainable competitive advantage. Once the premise on which all strategies were built, this idea is increasingly irrelevant. Now, Columbia Business School professor and globally recognized strategy expert Rita Gunther McGrath argues that it’s time to go beyond the very concept of sustainable competitive advantage. Instead, organizations need to forge a new path to winning: capturing opportunities fast, exploiting them decisively, and moving on even befo re they are exhausted. She shows how to do this with a new set of practices based on the notion of transient competitive advantage. This book serves as a new playbook for strategy, one based on updated assumptions about how the world works, and shows how some of the world’s most successful companies use this method to compete and win today. Filled with compelling examples from "growth outlier" firms such as Fujifilm, Cognizant Technology Solutions, Infosys, Yahoo! Japan, and Atmos Energy, "The End of Competitive Advantage" is your guide to renewed success and profitable growth in an economy increasingly defined by transient advantage.”
To learn how Construction 3.0™ Strategies’ concepts and principles can begin to help improve your company’s bottom line, contact Ted Garrison (Ted@TedGarrison.com or 386-437-6713).
by TED GARRISON
Ted Garrison, president of Garrison Associates, is a catalyst for change. As a consultant, author and speaker he provides breakthrough strategies for the construction industry by focusing on critical issues in leadership, project management, strategic thinking, strategic alliances and marketing. Contact Ted at 800-861-0874 or Growing@TedGarrison.com. Further information can be found at www.TedGarrison.com.