Newcomers are competing with industry leaders, a trend that will likely increase. For example, South Korea’s Samsung is doing quite well competing against Apple. Apple is at the top of BCG’s most innovative companies for 9 years straight, and Samsung is #2 (which is up from 26th in 2008.)
How do they do it?
- Design superior products….at lower costs
- Go to market faster….agility
- Streamline business processes
- Long term investments
While Caterpillar and GE have reacted and dispersed their corporate centers into multiple locations, the question is how will other companies handle their new competitors?
What is your blind spot to new global competitors?
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