The Innoboard management tools are AI-supported management tools that help you take your innovation performance to a new level.
The Nightmare Competitor approach briefly explained
The "Nightmare Competitor" method is a strategic thought experiment in which companies imagine their worst possible competitor. This hypothetical "nightmare competitor" has all the means and capabilities to inflict maximum damage on the company and capture its market share. Through this exercise, companies try to identify their own weaknesses and potential threats at an early stage. The goal is to identify their own vulnerabilities before real competitors do, and to develop proactive countermeasures. The method also serves to uncover innovation potential by reflecting on what this ideal competitor would do better or differently. Overall, the "Nightmare Competitor" method promotes forward-looking and adaptive strategic thinking.
With the Nightmare Competitor approach in INNO-VERSE, the CoCreator works with you to develop threatening competitors that operate according to the business model patterns of digital players such as Apple, Facebook and others.
Proper use of the Nightmare Competitor approach
- Navigate to the tools or to your workspace and click on Create new + to create a new Innoboard (details on creating an Innoboard can be found under Creating an Innoboard as Workspace administrator or Creating a new Innoboard as Workspace member. Depending on your workspace role, different setting options are available to you)
- Select the template Digital Nightmare Competitor and click on the arrow button at the bottom right (>)
- When filling out the description field of the Innoboard, make sure that you briefly but accurately describe the company and its market environment that is to be threatened by the Nightmare Competitor, as this description field will be given to the CoCreator as a basic prompt when generating the post
- Click Create Innoboard
The template already contains the business model patterns of the digital players Apple, Google, Amazon, Facebook and Microsoft. To hide certain competitors, adjust the contribution card as follows:
- Enter the settings by clicking on the three-dot menu in the Innoboard banner and clicking on Settings
- Go to the Idea Form tab and select the digital business models you want to use as a template for the Nightmare Competitor. If you don't want to use anything, click Hide
- Then click the Update button at the bottom of the idea form to save the new idea form with the hidden fields
Each new contribution now becomes a Nightmare Competitor, which should help you to show your innovation potential.
| Note: If you created your Innoboard as a Workspace administrator in advanced mode, your Innoboard is a draft and you must publish it to work with it (in the right-hand box on the Innoboard Information page you will find the Publish Innoboard button). |