A view of the new competitive landscape shows globalization, rapid technological change, and rivalry as conduits leading to organizational growth or either organizational decline. In this article we describe how supervisors can use four mindsets to convert possible threats presented by these environmental challenges into pathways of prosperity instead of pathways of decrease. An international mindset, or the ability to view the world using a comprehensive viewpoint, converts globalization dangers into growth opportunities by valuing integration across edges, thinking beyond geographical boundaries, and appreciating cultural and regional diversity.
An innovation mindset, meaning a mental framework that fosters development and execution of new notions, transforms accelerated technological change risks into opportunities by valuing constant creation of new ideas and business models, recognizing sources of new ideas, and stressing next practices rather than best practices. A virtual mindset, or the skill of supervisors to deliver their businesses' actions to external suppliers, turns hypercompetition into prospects for growth by easing flexibility and responsiveness. Finally, a collaboration mindset, meaning a readiness to engage in business ventures, converts all three challenges into opportunities by allowing businesses to form successful ventures that can cause synergy by combining business complementarities.
PUBLICATION DATE: July 15, 2008 PRODUCT #: BH284-HCB-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
Will the New Competitive Landscape Cause your Firms Decline It Depends on your Mindset Case Solution
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