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The UK Retail Industry - Case Study Example
Author : nkertzmann
Pages 31 (7781 words)
Today business environment has become increasingly turbulent, chaotic and challenging. To survive, it is vital that a firm can do something better than its competitors (Wonglimpiyarat 2004:1). Globalization has not only altered the nature and the intensity of competition but has had to dictate and shape organizations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it (Hagan 1996:1).
This is so because success is based on an organization's ability to create, rather than predict the future by developing those products that will literally transform the way the world thinks and view it self and the needs (Kanter 1995:71).
Within the context of today's global competition, businesses and firms no-longer compete as individual companies but try to corporate with other businesses in their activities (Wu & Chien 2007:2). These researchers went further to argue that, this strategy has become quite common in many businesses including the retail chain stores. The conventional vertical integrated company based business model is gradually being replaced by collaborative relationship between many fragmented, but complementary and specialized value stars and constellation (Wu & Chien: 1).
In today's global business environment it is no longer sufficient simply to meet customers demand as time quality and cost have become increasingly important in the phase of increasing competition (Petts 1997:551).
According to Higgins (1998:2), "customers don't always know what they need or even that there is a problem to be solved." Success awaits those companies that recognize the fact that, to be successful and satisfy customers, it is often necessary to lead cu ...
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