Competitive horizon

Citation

(2007), "Competitive horizon", Strategic Direction, Vol. 23 No. 3. https://doi.org/10.1108/sd.2007.05623cab.001

Competitive horizon

Consumer purchase of electrical goods will continue to be a key growth driver in the semiconductor industry over the next few years, according to a report published by the Turkish Press (www.turkishpress.com). Personal computers remain the largest market for semiconductors but almost a fifth of all microchips sold are used within electronics products like MP3 players, digital cameras and digital televisions. Mobile phones account for another 20 percent. The Semiconductor Industry Association (SIA) predicts double figure growth in the sector during the next two years, with the 10 percent anticipated in 2007 climbing to 10.8 percent the year after. Sales of almost $250 billion in 2006 may, the SIA claims, reach $321 billion by the end of 2009. In 2005, worldwide microchip sales totaled $227.5 billion.

How to make cold calling work

Despite belief to the contrary, cold calling can still have a role to play in generating business. According to Small Business Canada (www.sbinfocanada.com) a favorable response can result if you send the company a small promotional item in advance in order to showcase the quality of what you are offering. It is best to make contact early in the morning, as your target may be more energetic and easier to reach than later in the day. Your opening statement can make or break your chances, so being focused is essential. This is made easier if you research your market beforehand. After introducing yourself, you can then state how your product or service can benefit the organization. It is a good idea to prepare your opening statement in advance of the call and a script to subsequently follow. Politeness to everyone is obviously a must but it is also important to take the initiative and be insistent. For example, suggesting a specific appointment time is always better than merely asking if there will be an opportunity to meet. The report also points out that many cold callers are not determined enough. They will often give up after two unsuccessful calls, even though it has been shown that almost 80 percent of sales are not secured until after contact is made for the fifth time.

Demand for nature expected to influence 2007 trends

Research carried out by Mintel suggests that growing consumer demand for natural and ethical goods will help determine shopping trends in 2007. Increasing awareness of the anti-ageing qualities of exotic fruits from the Amazon will lead to more juice drinks containing fruits such as acai and cupuacu appearing on supermarket shelves. The market research company likewise predicts that fair trade products will become more widely available, with consumers being rewarded for their ethical stance with greater choice of fresh, seasonal produce. Food Navigator (www.foodnavigator.com) reports Mintel’s belief that similar concerns will see an increase in sales of cosmetic products containing natural ingredients that are not tested on animals. The organization also expects more skin-care products to be aimed at men, as manufacturers compete for a share of a booming market sector. This shift towards natural ingredients will see a simplification of packaging, the report claims. Demand for manufacturers to reduce the amount of materials used should result in packaging that is more environmentally-friendly.

How to make your organization more innovative

An article published by Score (www.score.org) points out that creativity flourishes better when collaboration is part of workplace culture. Interaction should be encouraged and, more importantly, organizations need to listen to what the workforce has to say. Shrewd leaders recognize that employees possess invaluable knowledge about the company and will be more familiar than most with its aspirations and difficulties. The report also points out the virtue of patience. Innovation should not be perceived as means of seeking a quick fix but as an ongoing process that will have inevitable failures along the way. Workable ideas will only emerge through considerable trial and error. Alertness to external developments is also noted as being important. Innovation should never be regarded as belonging exclusively within company walls because inspiration frequently comes from unexpected or unusual sources. The best solutions are often poached from completely different fields.