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What makes a company pursue the products, customers, market segments, and geographic areas that it. does? The answer is the Most important element of planning--it's the strategic heartbeat. The problem [...]

Gen George Patton's view that the most effective method in counteracting a rival's strategic edge is to modify the rules of the game holds true even in business competition. This approach encourages growth at the expense of a competitor through a set of rules. First, the company should have a degree of control or influence over the rules of the competition. Second, it should identify competitors. Third, it should assess the strategies of competitors. Fourth, the company should develop a competitive profile in order to determine the next strategic initiatives of the competitors. Fifth, it should manage the strategy of competitors. This means that appropriate actions should be taken in response to the identified strategy of the competitors. Sixth, the company should offset the competitors by debilitating the driving factor of the rivals' strategy and their areas of excellence. Lastly, the company should select their competitors.