Creating competitive advantage by strategic listening

Journal Article · Thu May 01 04:00:00 EDT 1997 · Electricity Journal

DOI:https://doi.org/10.1016/S1040-6190(97)80560-X· OSTI ID:518452

Faruqui, A

Electric utilities are preoccupied today with creating competitive advantage by lowering costs through restructuring their organizations. This short-term focus on cost control has created an inward focused corporate culture. Drawing upon case studies from within and outside the utility industry, this article highlights the importance of creating an outward focused corporate culture that generates long-term competitive advantage by strategic listening. Strategic listening is a management process that involves listening to all players in the utility`s value chain - from customers to competitors to suppliers - with a sole purpose: improving business strategy and operations. This process conveys information in real time to senior management, and results in decisions and actions that confer continuing competitive advantage on the utility. It is designed to shape and influence strategic decisions about fundamental business issues: (1) What business are we in? (2) What is our core competency? (3) Who is our competition? and (4) What products and services should we provide?

• OSTI ID: 518452
• Journal Information: Electricity Journal, Journal Name: Electricity Journal Journal Issue: 4 Vol. 10; ISSN ELEJE4; ISSN 1040-6190
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
COMPETITION
DECISION MAKING
ELECTRIC UTILITIES
MANAGEMENT