Today strange new world business needs supplemented model analysis of the industry and the market, which reflects the recent changes in the dynamics of the industry, such as globalization, entrepreneurship, technological advances and the Internet. That's the updated model, based on the guidelines and the expansion of the underlying Porter's five competitive forces model. Suggestions are offered for how managers can position your business for success in the current competitive environment. Competitive rivalry (strength, with the greatest impact on the profitability and risk) includes as substitute products and the threat of potential participants, combined because they are so closely related. The existence of strong barriers to imitation is the most powerful deterrent to destructive turbulence. Strategic positioning in a competitive market requires a market-oriented organization, a new market space, and relationships with key customers and suppliers. The strategy should be conceived as a series of real options. "Hide
by Stanley F. Slater and Eric M. Olson Source: Business Horizons 8 pages. Publication Date: January 15, 2002. Prod. #: BH068-PDF-ENG
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