Four Mistakes to Avoid When Predicting Competitors’ Moves
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Since 1986, Byron Wein, Vice Chairman Blackstone Advisory Partners (part of the Blackstone Group), has been offering 10 predictions for the coming year. Most years he is about 50 percent correct. But for 2013 he was only about 15 percent on target. Gold did not reach $1,900 an ounce. Iran did not build the Bomb. The S&P did not plunge to under 1800 – in fact, it hit an all-time high.
Leonard Fuld, Pioneer of competitive intelligence and Founder of the firm Fuld & Company, agrees you can’t predict the future with certainty. Nevertheless, says you still have to plan for it, even when you don’t know precisely what’s it going to be – what your market will look like, how technology might evolve, and how your competition might respond.
Read Full Article at Harvard Business Review here.
Tags: Competitive Intelligence
