Looking at your competitors can feel like a smart strategy.
But it can also make your organization think exactly like everyone else.
This week on Management Muse, Cindi Baldi and Geoffrey Tumlin use POM Wonderful as a case study in thinking beyond the obvious. They explore how the company turned an overlooked agricultural byproduct into a premium category, and reinforced that decision on every step along the way.
They also look at Southwest Airlines and the other side of differentiation: what happens when competitors catch up and a once-distinctive company starts to look more like everyone else. Along the way, they unpack why managers tend to stop at the first plausible solution, how analogy can help leaders think beyond their own industry, and why competitive advantage has to be continually defended.
Episode Highlights:
- Why looking at your competitors can actually narrow your strategic thinking
- How POM Wonderful turned an overlooked byproduct into an entirely new category
- Why analogy can help you find answers far outside your own industry
- How to avoid the ‘first plausible solution’ trap
- What Southwest teaches us about how competitive advantages eventually disappear
- Why analogy can help you find answers far outside your own industry
- What leaders can do to avoid becoming another commodity in the market
Watch This Episode on YouTube:
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Want to Go Deeper? Check Out Our Recommended Reading:
- Kim, W. Chan, and Renée Mauborgne. Blue Ocean Strategy, Harvard Business Review Press, Feb. 2015, https://a.co/d/0ccBgdGi
- Rumelt, Richard. Good Strategy Bad Strategy, Crown Currency, 19 Jul. 2011, https://a.co/d/013vvcgF
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