Do we actually understand how the landscape around us is changing? Do we have a shared view, a shared understanding in our company or management team of the ongoing changes in our industry? Are we able to think both short term and long term? The Industry Map helps answer these questions.
the Industry Map
Seeing changes on the horizon
The Industry Map combines traditional industry analysis (think, Michael Porter’s excellent five-forces framework), but combines it with several new lenses of analysis, including disruptive changes and disruptive players. Used correctly, the Industry Map allows you to see changes on the horizon before they develop into existential threats.
Deal with inflection points
The speed of industry change is picking up. Companies are facing disruptive events and strategic inflection points at an ever-fast pace. The Industry Map helps companies and strategy teams map out and understand these powerful trends way differently than traditional industry analysis tools.
Want to learn more about Inflection Points? We recommend Professor Rita McGrath’s new book, Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen. Get it.
The real power of the Industry Map lies in the ability to identify, understand and tackle disruption. It’s been 22 years since Clayton M. Christensen’s first published the Innovator’s Dilemma and brought the principle of Disruptive Innovation to the mass market. But still, 22 years later, few companies are fully prepared to tackle disruption. Strategy Tools and the Industry Map helps solve that challenge.
This is a really powerful way of working on industry analysis.
Use Case: Airline Company
An airline company was facing a rapidly changing business environment. Using traditional industry analysis tools, provided bland, well-known industry facts. The strategy team was looking for a new way of understanding how the industry was changing around them.
Using the Industry Map, the team quickly sensed that the combination of powerful trends, disruptive signals and speed of industry change was combing together to cause significantly more impact than anyone had expected up until that moment.
This insight caused the team to shift to a radically more ambitious transformation strategy and explore new business models far outside their traditional core, while at the same time, spending time internally to create a wider understanding of the perils they were facing.
How to Use it
Big Workshops or Small Teams
The Industry Map can be a powerful tool both with large group workshops, easily running ten to 20 groups at the same time. It can be equally useful and important as a core strategy tool for a smaller team, working over weeks or months to bring together solid insights and a new transformation strategy.
Print & Work
For working sessions, we recommend printing the Industry Map in large-scale format.
You can also order it in reusable format from our friends at www.stattys.com
The Industry Map is also highly suitable for placing on a large number of tables, for large group sessions. Use Stattys or write directly onto the tool, depending on your use case.
Bring Diverse Voices
Using the Industry Map, we recommend bringing in diverse voices from both across and outside the organization. Using a wide lens can bring in refreshing insights. Involving the Board of Directors, channel partners or different customer groups will provide invaluable insights to the process.