Argue Business Environment Changes Quickly Entering Period Hypercompetition Make Difficult Q34247073

Some argue that the business environment changes so quickly thatwe are entering a period of “hypercompetition,” which will make itdifficult to establish long term strategic objectives. Do youagree? Identify five major forces that accelerated environmentalchanges at the turn of the century.

Expert Answer

I agree, during the period of hyper competition it would becomechallenging to establish long term strategic objectives ascompanies are becoming competitive and aggressive at themarketplace. In today’s business environment factors such ascompetitive advantage, globalization, technology are changingrapidly so as to establish strategic objectives such as “growingmarket share and increasing profits” or ” surviving and turning aprofit “, would