MNG3701_Study Notes.

MNG3701_Study Notes. Managers should realize they have an influence they can influence the competitive landscape. They need to start with a point of view of how the world can be, not how to improve what is available but rather how to alter it drastically. There are 4 transformations that influenced and continue to influence the business models and work of strategists: 1. Expansion of available strategic space – Companies can decide and change their business portfolios. The forces of change have provided business with new strategies and new opportunities. 2. Business will be global – All adds to the complexity of strategic management and planning. 3. Speed will be critical – A critical element due to the nature of competitive changes. 4. Innovation as a new source of competitive advantage – usually tied to product and process innovation but has shifted to innovation in business models