Conclusion and Practical Implications

Abstract

Developments in corporate strategy have been determined predominantly by transformations in the competitive environment and the response of firms rather than the developments in theory. Firms today face a number of developments that are likely to profoundly influence corporate strategy. Globalization, information and communications technologies are expected to continue to drive the international business environment and provide the potential for business opportunities. Other developments such as access to capital, public versus private capital markets, the commodization of products and services, the breakdown of industry barriers, changes in demographics and demand patterns, the effect of creative destruction on industry value chains and the increasing dynamics and instability of markets generally are also likely to have an impact.