Adapting to your competitive environment
Your strategy will depend – in part – on how well it fits the competitive situation. Stable markets where competition is low may require a different approach to chaotic markets where competition is low. The approach to the situation is not fixed but it must fit.
Frequency – Continually.
Key participants – Everyone.
Strategy rating ****
In 2002, Walmart became the world’s largest company based on revenue. In 2010, it had revenues of $421 billion ($50 billion more than Exxon in second place). It now has over 8,500 stores worldwide.
Walmart became the world’s largest company by following a formula of great everyday value supported by an efficient supply chain. Rules for success were centrally enforced ...