Cyber Space, Corporate Restructuring, Advertising: Boon for Competitive Advantage

Hyper competition is a key attribute of the new economy. New customers want it quicker, cheaper, and they want it their way. The primary quantitative and qualitative shift in competition requires organizational change on an exceptional scale. Today, sustainable competitive advantage should be built upon the corporate capabilities and must constantly be reinvented. A little competition can be a healthy thing. It can also be both costly and disastrous if the companies aren't up to par with others in their particular business or industry. How the competition is handled can be a direct link to the success or the failure of a company. Companies significantly increase their chances of reaching on top by creating a competitive edge. Once companies have developed a competitive edge, maintaining it will be a daily challenge. It will require the management to look into the crystal ball and attempt to forecast, where the trends and changes in the industry will come from, and what the company can do to stay ahead of the game? It will demand that the competitors and their future plans should be continuously tracked. Companies will also need to recognize that through the course of time the customers' needs may change due to a variety of circumstances. The company must be flexible and willing to change as well.