In order to thrive in today’s competitive business landscape, companies must be willing to expand as necessary. Corporate white spacing is a term to describe how organizations can identify markets with unmet needs or create opportunities for innovation. Today, many companies are looking for opportunities to expand their businesses and take advantage of markets where there could be a potential for success and growth.

However, corporate white spacing must be a very strategic decision. The choice to expand a company always carries the risk of failure. According to an article in Innovation Management, “White space can cannibalize existing products or services, it can require extensive system design and support, and in some cases it can require very different business models.”

Like any big business decision, it is critical for business leaders to complete research before major decisions are made. Innovation Management has outlined the different paths that a company can take for white space mapping:

  • The externally-focused perspective begins with looking at your current market to understand areas that are appropriately served, under-served or even un-served. The goal of this approach is to find the gaps in your market to identify business opportunities.
  • The internally-focused perspective requires companies to look at their abilities and explore if there are any new opportunities or competitive threats that would lead to an expansion in their offerings.
  • The future-focused process requires strategic forward-thinking. Companies are encouraged to evaluate their market no more than five years ahead, and adjust and expand as they see the potential for future opportunities.

Today, many companies are looking for opportunities to expand their business and take advantage of markets where there could be a potential for success and growth.

Regardless of the approach, in-depth research is required for a successful white spacing initiative. EBSCO Corporate Solutions has identified the matrix of information necessary to scope out unknown markets and craft new business plans. 

Trade periodicals are a critical piece in the information matrix puzzle as they provide information on current events and trends for specific industries. These journals are hyper-focused and can provide a wealth of current information that can assist in business research. Since these periodicals are released regularly, they provide some of the most updated information on industries available. Trade periodicals can consist of popular business magazines, as well as trade publications. 

EBSCO’s Business Source Corporate Plus offers access to over 5,600 full-text business magazines, journals and trade publications that cover a wide variety of industries. The database offers full-text issues of popular titles such as Harvard Business Review, Engineering News-Record, Women’s Wear Daily, Beverage Industry, Franchising World, Rubber & Plastics News, Emerging Markets Finance & Trade and many more. 

Speak to an EBSCO sales representative for more information on how Business Source Corporate Plus can assist in your white spacing efforts.