To turn things around, they need to be more creative in developing and executing their competitive strategies. As market power has moved from companies to consumers, and global competition has intensified, managers in almost all industries have come to face steep performance challenges. public companies has fallen below 1%, to about a quarter of its 1965 level. According to Deloitte’s landmark study “The Shift Index,” the aggregate return on assets of U.S. In America, corporate performance has been deteriorating for decades. To avoid being trapped in old markets, managers need to: Though these assumptions and beliefs have worked in the past, they undermine efforts to create new spaces. Managers’ mental models are based on their experiences in existing markets. But despite much investment and commitment, companies find it extraordinarily difficult to establish new market spaces. Competing in existing markets is growing less profitable. To succeed in the long term, companies must find ways to create new markets.
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