Date Added: Nov 2009
Modern technology has lowered the barrier to entry for new competitors by allowing international outsourcing, greater agility, quicker product design to market, and specialized focus on niche markets causing more market fragmentation and specialization. Customers have a wide variety of information from sellers and the Internet about products, design, services, options, pricing, and availability. Things are more dynamic than ever. Because of the pace of change, focusing on "Best practices" and internal process improvement, or even extending processes is no longer enough.