As industry ecosystems change, your business must also adapt to compete successfully in the new environment. Some of these changes affecting industry today include:
- Changing market environment
- Discontinuities – technological innovation, regulation, “flattening” world
- Competitive landscape – new entrants, mergers
- Customer demand – rising expectations, “smarter” buying
- Changing competitiveness
- Business/Operating model – changing opportunities, better ways of doing business
- Capabilities, competencies and resources – evolving IT, skills, and best-practice models
- Changing ambitions
- Goals – growth, profitability, reach
In the face of these changes, businesses need to ask themselves:
- How do we compete to deliver (long-term) shareholder value?
- What opportunities should we be pursuing?
- How should we be positioning ourselves?
- What do we need to do to be successful?