Markets are changing fast and we must be abreast of what’s going on out there:
Be aware of some of the strategic changes that will present major opportunities for you and your business.
- Competitive pressure resulting from globalisation is making business harder – customers want “more for less”.
- Competing with China and the New Europe on price is going to be tough. If you can’t beat them, join them!
- Business strategies based solely on price differentiation are doomed for failure.
- Customers want to work with fewer providers this means we have to be slick and stand out from the crowd.
- More suppliers and companies fighting for market share means that differentiation is becoming more difficult – What is the basis of your differentiation strategy?
- Longer lead times to winning business in high value added markets is placing pressure on cash flow – make sure you have a well stocked pipeline.
- Embracing new technology to connect with customers is vital. Many traditional markets are using technology to revitalise their business.The emergence of new business models driven by technology is creating an exciting future for those businesses that have the desire for growth.Quicker, faster, better, cheaper is taken as a given. This is what WP call the er’s – We must think in a different way.
- We must think in terms of the I’s – Customers want to be Inspired, and they demand Imagination and Innovation to provide a great experience.