Look at any industry, in any market, and you’ll find the same strategy playing out everywhere. Companies compete with one another in a mindless race to the bottom, matching products and services feature for feature, competing primarily on price. This commoditizes markets and drives down prices and margins. But ultimately, no one wins—not even the consumer--as quality, service and differentiation suffer. We call this senseless strategy “attrition competition”, and it is derived from prevailing military strategy, which seeks to overwhelm competitors. There must be a better way.
Joining us for our discussion on Doing More With Less are Jeffrey Phillips and Alex Verjovsky who are in studio. Jeffrey Phillips leads Ovo Innovation, an innovation consulting company in Raleigh, North Carolina. Jeffrey has led strategy and innovation projects in a number of industries including pharmaceutical, high tech, financial services, insurance and medical products. He is the author of three books, including relentless innovation, and writes the popular innovate on purpose blog.
Alex Verjovsky brings over twenty years’ experience in the consulting and technology sectors as both a consultant and entrepreneur. His most recent company, Castor Fields Sapi, reached over twelve billion dollars in sales. Prior to Castor Fields, Alex founded biofuel alternatives, a pioneer in the biodiesel market. Alex is a graduate of Columbia business school. Their latest book is “Out Maneuver: Outthink, Don’t Outspend”