Strategic business management in a competitive environment

Technological improvements in consumer products have been happening at an unprecedented pace, especially in the latter part of this century. This exponential technological progress is bound to continue for many more decades to come through the year 2000 and beyond. Many American industry giants and conglomerates have resorted to manufacturing in the far Eastern and Pacific rim countries, whereas many Japanese and European industry leaders have opened manufacturing and marketing locations in the US, to comply with the globalization trend of the business and economic environment. Companies are taking a global management approach to exploit this trend and to increase and maintain their market share. Many recent historic events like the unification of Germany, demise of the USSR and EEC-92 are examples of the changes prompting as well as justifying management approach befitting for survival in the global business environment. Any company developing and manufacturing products should be equipped to survive in this internationally competitive environment. Because high technology products become obsolete quickly, owing to the pace of the technological progress, product development and manufacturing techniques combined with long-term product planning as well as judicious product introduction schemes have to be employed, while maintaining a quality edge over competitors.<>