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    Carey Smith on Competitors

    competitorAt some level, we all work in a competitive service or product environment. How well do you know your competitors? There has been much change in the business environment during the past 12 months.

    There have been opportunities for mergers and acquisitions, and there have undoubtedly been businesses that have been unable to withstand the first market changes through the slowing of the economy. What position are your competitors in today? When you plan the 12 months ahead, it is important to understand not only the strengths of your competitors but also where the opportunities lie to gain a point of difference or a commercial advantage. We can monitor our competitors’ position in market share through data that is freely available from common websites.

    During this year, knowing your competitors will be just as important as knowing about your own business.

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