Strategic supremacy in the hypercompetitive 21st century

Abstract

The dawn of the 21st century has given rise to a new competitive paradigm; brought about by globalisation, information technology and biotechnology developments and the work force revolution. This article identifies the shortcomings of traditional approaches to strategy formulation as measured against the demands of this evolving paradigm. The development of high potential strategic positions, the building and refining of distinctive competencies, the strengthening of strategic fit relationships, the maintenance of balance between the requirements of old and new business and the establishment and maintenance of a strategic thinking and learning culture are building blocks of strategic supremacy in the hypercompetitive 21st century.