Changing Competition
The competition arena is blurry. Back in the 80s and 90s, it was easy to monitor your competitors: you shared physical proximity for the most part, and mainly used the same strategies or tools to compete. Back then, there was the concept of entry barriers reinforced by heavy “physical” assets.
The realities of today’s competition are totally different. Did the Swiss Watch industry see Apple coming? They took over more than half of their market, beating them in design, functionality, brand image, and most importantly, retailing.
We, as an industry, need to stay vigilant and ahead of the game in all areas when facing upcoming changes. This requires a true transformation. This is business evolution.
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