Strategic Initiatives: End-to-End Competition Tracking System

December 12, 2021 - Yas Marina - Abu Dhabi

When entering the last 5 out of 58 rounds, the driver Latifi, who had already lost all chances of winning, had an accident, and the security car drove onto the track. Dutch driver Max Verstappen, who did not yet know that in 10 minutes he would announce his championship, used a clever strategy and, having entered the pits, changed tires. The Flying Dutchman, who, thanks to the new tires, accelerated on the remaining laps and caught up with Hamilton, became the champion of Formula 1 for the first time in his career, taking the lead on the last lap. The destruction of his opponent's years of dominance in the latest race was due to the excellent defense of his teammate Pérez, the team engineers who improved his car every year, the race engineers who planned every second by analyzing the data and rivalry in the last race, and his never-ending drive to succeed.

The biggest failure stories in the business world are often led by companies that fail to interpret competition properly and develop appropriate strategies. In addition to well-known examples such as Kodak and Nokia, countless other stories highlight the importance of creating a strategy integrated with competition, including the inability of Blockbuster to anticipate and respond to digital broadcasts, unlike its rival Netflix, or Toys' R'Us, the first toy store that comes to mind for millennials and their families, has ignored the e-commerce trend in its own vertical.

Although the artificial intelligence application called Müneccim, that we created, predicts machine failures, we at Borusan Cat are not yet able to predict the future with the same accuracy as the namesake of the application from the movie "The Matrix" - The Oracle. Thus, the systematic monitoring of competition and the management of a dynamic strategy integrated with competition become a must for us.

At Borusan Cat, we take many initiatives to gain a competitive edge in all of our business areas. One of them is the End-to-End Competition Tracking System initiative, which we launched to provide direct monitoring of competition. Through this initiative, we sought to transform the existing manually maintained non-structural model into a mechanism that will promote corporate memory with a flexible, dynamic, structural, sustainable, accessible, and easily understandable structure within the rules defined by competition law. That will allow us to better understand market trends, develop agility in this direction, improve the quality of customer service, launch new products and service points, and get results in creating long-term strategies. In addition, we will be able to support the formation of other strategic initiatives that we have developed to offer our customers an excellent field experience per their expectations and market preferences.

We must also stress the importance of "data" in monitoring and managing competition. Forrester, a research and consulting firm, has identified data-driven organizations as a new type of company and claims that they are growing 30% faster than other companies as a result of progress in data-driven strategies (https://fastcompany.com .tr/)*.

With the full operationalization of our End-to-End Competition Monitoring System initiative in 2023, we will be able to predict market trends and determine the necessary actions in this direction; at the same time, we will continue to be the brand of choice due to our continuous improving customer experience and our ability to offer better solutions to our customers.

*: https://fastcompany.com.tr/dergi/veriye-dayali-yeni-liderlik/

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