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Globalization is a big word, covering the entire area of the civilised portion of the planet, involving all aspects of commercial activities (trade, industry and services), and business entities (large and small, well-established and newly emerging).
B2B (and B2G) is another big word, representing over 95% of Global Business. It means dealing with sophisticated, intelligent and business-minded customers who know what they want, how? where? and when?
Therefore, ALL global supply chains, old and new, large and small, share a common challenge: the need for sustainable competitive advantage to win and retain customers.
This calls for the need to establish and create sustainable competitive advantage as a critical factor to develop new business paradigms to seek new opportunities or retain and “grow” existing ones. It also calls for innovative and creative approaches to the formulation and implementation of strategies and has essentially added an additional dimension to the traditional “Porter’s 5 Forces of Competition” concepts.
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