21ST CENTURY COMPETITIVE MARKETS

CHANGING LANDSCAPE OF COMPETITION

• Technology has altered the competitive base

- Availability of goods and services through retail portals
- Entertainment content available on demand 24/7
• Mobility of individuals challenges businesses to rethink their business models
- Gasoline stations as dining and convenience store destinations
- Personal assets utilized as commercial resources
 GLOBALIZATION

• Lifting and/or reduction of import tariffs – enabling entry of foreign brands in several
industries and product categories.
• Worldwide spread of manufacturing bases – gaining access to skilled inexpensive
labor and domestic markets
• Improvement of manufacturing standards, operating efficiencies, workers’ wages
• Outsourcing of other business functions
 GLOBAL CONNECTIVITY

• Information age – enabling quicker access to to customers through social media,

email, online advertising,
• Flexibility of mobile gadgets enables users to multi-task
• Business functions carried out online, expediting transactions, eliminating the
traditional middle-man
 KEY BUSINESS CONCEPTS

• Core competence: Resources and capabilities that serve as the source of a business
organization’s competitive advantage
• Strategic Intent: Leveraging a firm’s internal resources, capabilitites, and core
competencies to accomplish a firm’s goals in a competitive environment.
• Strategic Mission: Statement of a firm’s unique purpose and the scope of its operations
in product and market terms
 STAKEHOLDER THEORY

• Stakeholders: Individuals and groups who can affect, and are affected by outcomes
that are achieved, and who have enforceable claims on a firm’s performance.
• Capital Market Stakeholders
• Product/Market Stakeholders
• Organizational Stakeholders