maintaining and improving profitability targets. In the face of fierce competition, the market place is merciless in changing the fortunes of companies. If firms ignore or neglect strategic moves by competitors, they can find their market share and profitability disappear in a quick time. Competition can be in many forms such as new entrants, new products/services, more economical processes that offer cheaper alternatives to customers, new marketing or distribution channels, newer strategic associations or markets, etc. While the challenge of keeping track of so many variables may be daunting, it is comforting to remember that generally, each business has its own limited set of rivals. Largely, this depends upon its own profile of size & operations. It is this universe of potential rivals that is important to a firm’s competitive position.
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