[New Release] Competition Shift

◆Competition Shift = This highlights the new rules set by digital giants to gain an advantage in competition. The key is to pay attention to the fact that consumers' tastes and expectations, as well as the technologies underpinning revenue models, are constantly changing. It emphasizes that traditional companies must also understand consumers' minds and improve end-to-end experiences to reassess and revise their competitive advantages.

"In the past, changes occurred gradually. Therefore, companies spent weeks or months analyzing the competitive environment and establishing strategies they believed would remain useful for at least several years. However, today, large-scale transformations akin to metamorphosis are happening. Every company must recognize what might render their best plans useless by tomorrow and quickly change direction. Staying too long within the narrow view of core competencies will result in failing to acquire newly needed capabilities and suffering significant damage. Netflix and Hulu built streaming capabilities early on. Disney, Apple, Amazon, and WarnerMedia developed such capabilities years later. Fox delayed building streaming capabilities and sold its film assets to Disney to avoid financial losses."

(Ram Charan & Gary Willigan / Translated by Eun Kyung Lee / Vision Korea)

This content was produced with the assistance of AI translation services.