Business Process Management: Profiting From Process

New-Age Business Drivers

As the economy changes, the context for all private and public sector businesses changes with it. I feel that four major forces are causing upheaval for many enterprises:

• Hyper-competition

• Growing organizational complexity and reach

• Rising external stakeholder power

• E-business technology

Hyper-competition

The term hyper-competition simply implies that competition is happening more quickly and more aggressively than ever before. The tearing down of barriers is allowing new entrants into traditional markets and playing havoc with the old rules. Competitors are also playing harder than ever before. Many new players are entering the economy and taking over a larger and larger share of markets. Many are driving out unresponsive ...