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INTER-INDUSTRY COMPETITION

Posted By Administration, 18 July 2016

18 July 2016

 

INTER-INDUSTRY COMPETITION

ARE YOU BEING SMART OR ARE YOU BEING RISK-ADVERSE?... OR BOTH
 

Competitive pressures are forcing market players to cross industries in search of competitive advantage. Mobile operators for example, are crossing telecommunication boundaries in search of new revenues streams. Retailers are also in on the act by branching out of just selling commodities to offering value added services. It seems like a new trend has emerged but have we ever wondered why? It appears that a number of these industries are facing a challenge of their cash cows running out of “cash milk”. To name a few, voice revenues are declining for mobile operators - thanks to social media and enabling technologies such as wi-fi; IT integrators run the risk of being surpassed by cloud computing; auditing revenues are no longer derived from traditional sources as some of their services can now be done through technology.

It is suggested that one of the key drivers behind this challenge is that the once solid lines between industries are becoming blurred.

See more on: 

The Limits of Industry-Centered Strategic Thinking in an Era of Convergence


QUESTIONS:

As a risk manager in your industry:

1.  Are you considering an inter-industry strategy, and if you are already in it, what are the risks associated with inter-industry competition?

2.  The risk of failure is high especially if the capabilities and resources cannot scale up - what mitigation strategies is your organisation employing?

3.  Are you at the forefront of assisting your organisation with these risk/ reward decisions?













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