Winning strategies in a hypercompetitive market

Economic globalization is commoditizing products and services at an accelerating rate. Imitation is becoming widespread. Quality is no longer the exclusive preserve of a few market leaders. Entry barriers have fallen in most markets, leaving the door open to a flood of potential competitors. Today, it is nearly impossible to develop a stronghold relatively safe from attack.

In this context, traditional strategies are being challenged. Growth at all costs, the merciless struggle for market share, and the pursuit of lasting competitive advantage are notions of the past.

The authors of the publications we have selected have studied the strategies of businesses that have managed to survive and even thrive in a hypercompetitive environment where imitation is widespread. Many readers may feel disappointed with their principle conclusion, i.e. there is no magic formula for success. Nevertheless, most long-lasting businesses appear to apply three key principles:

– Reinvent the business continuously: do not wait to be in trouble to pursue the next promising market, even if this means sacrificing what originally made your business so successful.

– Adopt an economic model unattractive to your competitors – turn your specific characteristics into assets, and turn your opponents' strengths into liabilities.

– Use intangible dimensions as differentiators, such as a specific culture, emotional link with customers or a specific mission, as these assets are very hard to imitate.