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 high. 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. By 2014, it had revenues of $485 million ($40 billion more than Shell in second place). It has over 11,000 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 to ensure ...

Get The Strategy Book, 2nd Edition now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.