How Competition Impacts Markets: Rule of Three, Part I
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For a company, it is critical to understand how the forces of competition work and the impact it could have on its products & marketplace. This course explains the five forces of Competition and that in any industry a company makes money at the extremes. It is further illustrated by a company’s market share and financial performance and the best practices associated with roles of people as Specialists and Generalists. A strategic framework, Rule of Three, is discussed in depth and to augment the case many examples are presented including scenarios where it was applied to nations, consumer product companies, and airline industry. Furthermore, several practical strategies are included on how to achieve efficiency through scale, evolution of competitive market structure, growth vs. efficiency industry, growth through scope and how to revitalize industry.
