Encroachment by Others

Many companies fail due to their unawareness of new competitive threats from unlikely sources.

It is easy to focus on the competitive threats that you deal with every day.  The resulting tactical plans can be effective in defending your position.  Unfortunately, with that preoccupation, competitive threats through encroaching companies can go unnoticed or discounted until it is too late to mount an effective defense.  Develop plans and regularly consider who could enter your market, why, and when.