1. Competitive success in fast-changing markets tends to hinge on a company’s ability to improvise, experiment, adapt, reinvent, and regenerate as market and competitive conditions shift rapidly and sometimes unpredictably.
2. The following five strategic moves seem to offer the best payoffs:
a. Invest aggressively in R&D to stay on the leading edge of technological know-how
b. Develop quick response capability
c. Rely on strategic partnerships with outside suppliers and with companies making tie-in products
d. Initiate fresh actions every few months not just when a competitive response is needed
e. Keep the company’s products and services fresh and exciting enough to stand out in the midst of all the change that is taking place
3. Cutting-edge know-how and first-to-market capabilities are very valuable competitive assets in fast-evolving markets.
CORE CONCEPT: In fast paced markets, in-depth expertise, speed, agility, innovativeness, opportunism, and resource flexibility are critical organizational capabilities.
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