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Extra resources for Architecting Enterprise: Managing Innovation, Technology, and Global Competitiveness
Hard competitive players in business singlemindedly pursue competitive advantage, and the benefits include leading market share, great margins, and rapid growth. They pick their shots, seek out competitive encounters, set the pace of innovation, and test the edges of the possible success of their products and services in the market. Soft players, by contrast, may look good but they are not intensely serious about winning. They do not accept that you must sometimes hurt your rivals, and risk being hurt, to get what you want.
Potential firms evolve in market competition through innovative marketing strategy and lean organization design. Competing firms embed their marketing policies in social networks to co-create value in business for sustainable growth. The best minds in the profession have participated in this competitive search for sufficient conditions, and they ended up producing the standard textbook version of the perfectly competitive model, a model that almost everyone recognizes does not describe anything, but yet which became part of the corpus of economic knowledge (Wagner, 2001).
Managers must help companies reconceive themselves, customers, competitors, and opportunities. • Firms must engage in market experimentation to determine which new strategies work. Managers generally associate innovation in business primarily with the development of new products and technologies. Innovation in business is increasingly seen as development of new products, processes, business models, pricing paradigms, and routes to market in addition to the new or best management practices followed by firms in the global marketplace.
Architecting Enterprise: Managing Innovation, Technology, and Global Competitiveness by Rajagopal