CHAPTER 11Staying on Track
All business models are internally challenged from time to time. This is justifiable, if the offer is no longer in demand or it has lost its unique point of difference and competitive advantages for reasons outside company control. But what happens when the business concept is challenged because of internal mistakes, even if the model itself is sound? This often happens when a company is under pressure from competition or in an economic downturn with low general demand in the market. With falling sales and increasing costs, the company is looking for easy wins. This could mean adapting the products on offer to be more mainstream or increasing prices to offset higher costs. I have seen this happen a few times at Ikea. ...
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