Do you have competitive blind spots? Before you answer this you need to have an understanding of what competitive blind spots are. A competitive blind spot is not having a full view of your industry resulting in you not identifying what your competitors are doing, not identifying substitutes to your product or service or not picking up other changes in your industry that can significantly influence your organisation.
Nokia is a good example of dominant company that lost out by having competitive blind spots. Nokia dominated the cellphone industry and was in a strong position after the move to feature phones. Nokia’s blind spot was not identifying the rise of smartphones, resulting in them missing out and Apple and Samsung taking up dominant positions in the smartphone market.
Kodak had a dominant position in the photographic market. They identified digital photography as a growth area and even developed digital cameras but feared cannibalising their photographic film market. Other competitors entered the market and as digital photography grew and surpassed photographic film in sales, Kodak were left with a diminished market share and filed for a Chapter 11 bankruptcy in 2011. Kodak’s blind spot was not identifying the competencies and capabilities of its competitors and the potential of the digital photography market.