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.
In 2002, Walmart became the world’s largest company based on revenue. By 2019, it had revenues of $514 million ($100 billion more than the next largest company). It has over 12,600 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 rapid expansion. ...
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