ABSTRACT
Consequently, there are four elements to a competitive business strategy: know your enemy, know yourself, know where you are and know what is going on. To know your enemy is to know your competition for buying supplies, employing staff and selling products. To know yourself is to understand your key competences and advantages-and to know your weaknesses also-in relation to your own objectives and to the competition. To know where you are is to understand the social, economic, environmental, cultural and political context of your business operations: for example, the legislation for regulating your company. To know what is going on is to use that knowledge of yourself, your enemy and your operating environment to understand the 'bigger picture', and forecast changes in your markets, supplies and competition-and plan accordingly.
