Global Competitive Strategy
"Would you like me to give you a formula for success? It's quite simple, really. Double your rate of failure. Youare thinking of failure as the enemy of success. But it isn't at all. You can be discouraged by failure or you canlearn from it, So go ahead and make mistakes. Make all you can. Because remember that¶s where you will find success."
- Thomas J. Watson
The secret of success of any organization is not always as cryptic as Pandora¶s box. There are often tangible plans put in place to breathe life into an inspiring idea, a taskforce is then created comprising of Management³gurus´, endearing Executives and smart faithful employees. The processes to get through the initial struggle of breaking through the market and creating a presence, is a very difficult task accomplished by Market research,Technological innovation, and smart Entry strategy.
are inthe general sense, accepted to be the primary embryos that grow into a successful organization. Conceptualisingthe idea and figuring out the entry plan is important. Whether you feel that you need Funds to support your idea,go for a Joint venture or a partnership, etc. What facilitates the growth will be the Demand in the market and theessential tools to understand how flesh and blood can be added to the skeleton of an idea. What creates amonster out of this baby ? Now that is a whole new question.
did not for once stop to think he hadachieved Success even after creating operating systems that were and are used by a major portion of the world.You have to take the bull by the horns and keep going, over and over again. Fend off competition with a tactmind , that is always on the lookout for new avenues and tap markets of higher potential. A success story onceestablished deserves the opportunity of floating new possibilities in a Global marketplace.All said and done, the idea is to innovate and create a market for your innovation - would be the ideal way tostart a venture. This directly implies that you are now a leader in the market and you have the power to drive it.Your customer numbers swell and now the fact that you are an emergent company, is not something that isetched in permanence. There are a number of threats to this supposedly ³Success story.´
± An idea no longer remains an owned product of conception when it is implemented successfully.The natural force of the world is to try and imitate in order to achieve similar success. For the lack of an idea,the next best thing would be to imitate the product and the process. Take for example,
which is a powerhouse in the Microprocessors industry, market share close to 90%. The amount of time that goes from thelaunch of it¶s new microprocessor till the time it has matured and phases out is very minimal. Competitors like
are on their tail and Intel has done well to plan ahead and keep the future in mind. There¶s no time torelax in a competitive market.
± There should be a focus on learning from Success to keep the advantage going.
for example does extensive research on Buying trends, Customer surveys, etc to figure out how they can adapt on aregular basis. The kind of
it has built up over the years is unparalleled in the Retail industry. It has ina sense, created a halo around the Brand Walmart that there is a widespread delusion among the buyers that theselling price of commodities is cheapest there, always. This kind of reputation is hard to break down, but whatmakes it stand is that the learning Walmart does by studying the prices of commodities in nearby retails storesand ensure a discount is offered on select brands from 7 to 10%. This misconception is such that stores even if cheaper to shop at, do not receive any number of substantial shoppers. Learning is essential in ensuring longterm survival.
= The threat of substitution is probably the most fearful one. The arrival of a competitor who doesnot simply imitate your processes and outlook, but goes beyond by providing a better, more efficient and astand-out service or a product, is something to be feared. It could completely displace your market share andwipe out any semblance of hope. Take for example,
arnes & Noble
which was a profitable company involvedin warehousing of books, managing huge inventories and logistics. Their market share rose from 4% to 13% by