Words of Wisdom: How to Identify and Tackle Incumbentitis | Red Team & Berenzweig

The shock of losing a contract to a competitor is something no company will forget. After witnessing a number of companies unseeded by competitors, we have come to learn that there is nothing shocking about it at all. In fact, many unseeded incumbents have sealed their fate long before the proposal was submitted. We have seen it so often that we have termed it incumbentitis. Should Miriam-Webster be interested in adding this term to the dictionary, we would define it as “the incorrect assumption that no one else can do what you doy which can result in an inflated sense of self-worth that casts a shadow on discernable competitors and muddles one’s own competitive advantage.”

Source: Red Team & Berenzweig October Newsletter | Words of Wisdom