This is a new leading edge approach, but we have already delivered results:
The Signals of Change team was set up by the Consumer Product Development Division with the aim of providing valuable information (early warning signals of changes in consumer trends, competitor activities, etc) and new ideas to the consumer product development team. Signals of Change teams met every two months at the country level and twice a year country team representatives met internationally.
The initiative was sponsored by the Director of the Competitor Analysis Division. Within six months, the Signal of Change team had captured information, (unrelated to the automotive business), that clearly indicated how a foreign manufacturer would enter the market.
Those who believe that competition comes from within one’s industry are always caught out when the paradigm shifts. This outward-looking financial institution was able to identify a competitor from an altogether different industry that had plans to enter the financial services industry, before there were any signs of its intention to do so.
More endorsements for the Signals of Change method
We were able to identify a competitor from an altogether different sector that had plans to enter the financial services industry, before there were any overt signs of its intention to do so. The new entrant found one incumbent prepared.
UK Financial Institution
Through the Signal of Change team we learned, a year in advance, that a foreign competitor intended to install a critical feature on all cars sold in our main market, thus changing the rules of the game. We were able to prepare and counter-act;
European automotive manufacturer
We introduced consumer products in garage outlets that surprised our competitors and delighted our customers. We identified opportunities that we would never have been aware of without the Signals of Change approach.
Major oil company
We found that assigning fast-track management trainees to the Signals of Change team noticeably increased their enthusiasm and motivationt;
European automotive manufacturer
It was nice to turn the tables on our advisers! Normally they are the ones who take us to task for not noticing external changes.
UK Financial Institution
