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– How do we protect our reputation for service?
– How do we ensure that we retain our best customers?
n How do we improve all that we do at lowest possible cost to ensure
that we become and remain the best of the best?
(For the tools and techniques of Comparative analysis in a handy single
page format please refer to Key Management Solutions, pages 172–174.)

Summary

I Adrian Furnham has shown that some business ideas work best if
I you reverse them. Perhaps to the businessperson the most useful
I saying would be, “if you can’t join ’em, beat ’em”. Comparative
I analysis is a unique tool that tells you whom you can beat, when
I you can beat them and how to go about it. Do not underestimate
I the questions that give you competitive advantage.

PEST+ (political, economic, social, technological and
legislative) analysis

Entry into new markets overseas demands careful prior assessment. But
this assessment should not be used only as a prelude to foreign adventures.
Political, economic and social changes have major effects at home and the
strategy is designed to be flexible, but relevant, over a considerable period
of time.

Political analysis

n What are the levels of political stability in all markets that we
serve?

n What effect are changes of government likely to have on our
business prospects?

n What are the effects of any instability on our threat and
opportunity analysis?

Economic analysis

n What are the global economic trends?
n How may these affect our business?
n Have we taken full account of them in our thinking?

20 Key management questions