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Change Management: Planning for the Future and the Competitive Environment

  • Konstantinos BiginasEmail author
Chapter
  • 864 Downloads
Part of the Palgrave Studies in Democracy, Innovation, and Entrepreneurship for Growth book series (DIG)

Abstract

This chapter explores critical insights into the process of change in today’s fast-paced competitive environment. The chapter focuses on significant drivers of change and assesses their impact on the external environment of modern companies. How companies will react to all these changes imposed by a number of factors is a subject that is going to be discussed in the following lines. The market reaction to these changes is examined in an attempt to predict future implications and highlight the importance of planning for modern organizations in order to remain competitive in today’s globalized, highly competitive environment. The Structure-Conduct-Performance model, which is a road map for identifying the factors that determine the competitiveness of a market, is applied in order to analyze the behavior of firms and their reactions to changes. Furthermore, Porter’s five forces model is discussed. This model helps to define strategic segment boundaries and reveal insights into the key forces operating in the competitive marketplace. Finally, different market structures are analyzed in order to assess the impact of changes on these markets and the way that the markets are capable of correcting any failures or misallocations of resources available. In this respect, the strategies needed for driving organizational change require an essential set of skills and competencies at the core of the business function.

Keywords

External environment of modern companies Highly competitive environment Strategic segment boundaries 

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Copyright information

© The Author(s) 2017

Authors and Affiliations

  1. 1.London College of International Business StudiesLondonUK

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