My Bottom Line: Colin Drummond, Viridor

Colin Drummond is chief executive of the UK waste management firm Viridor.

He argues you need to understand your competition if you want to beat them.

Colin Drummond appeared on The Bottom Line which is broadcast on BBC Radio 4 and BBC World Service. Subscribe to the podcast or watch it on the BBC News Channel.

Find more business wisdom from other chief executives on the My Bottom Line website.