Elements of New 7’s of Competition:
Stakeholder satisfaction – Customers as most important stakeholder
Strategic soothsaying – Continious improvement based on customer needs
Speed – Organisational agility and flexibility
Surprise – Create competitive advantage
Signals – Competitive communication and signals
Shifting the rules – Game theory
Simultaneous or sequential thrust – Well planned moves to create competitive advantage
Principle:
Principles to succeed in hyper competition markets
Issues:
Industry competitive level Porters five forces
Applications:
To plan and execute competitive strategic advantage within an industry
Source of New 7’s of Competition:
(D’Aveni, 1995)