The only real, enduring strategic advantage comes from changing the rules of the game.
Businesses are dynamic in nature and subject to constant change in their internal and external environments. The rate of change is accelerating with increasing globalisation of business activity and the application of new technologies, making markets even more competitive, complex and open to new business models.
Every change is both an opportunity and a threat to an existing business. Successful businesses constantly monitor their markets and anticipate and plan for change. Unsuccessful businesses usually do not! Change is never easy to implement and manage and it is likely to be resisted by some employees and other stakeholders. Business survival, therefore, is about the management of change.
Significant change may force a business to reconsider such fundamentals as its mission and vision statements and the way it structures, manages and coordinates its operations. This may lead to a change in the corporate culture of the firm.