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Will the new competitive landscape cause your firm's decline? It depends on your mindset


  • Lahiri, Somnath
  • Pérez-Nordtvedt, Liliana
  • Renn, Robert W.


A view of the new competitive landscape shows globalization, rapid technological change, and hypercompetition as conduits leading to either organizational decline or organizational growth. In this article we explain how managers can use four mindsets to convert potential threats posed by these environmental challenges into pathways of prosperity, instead of pathways of decline. A global mindset, or the ability to view the world using a broad perspective, converts globalization threats into growth opportunities by thinking beyond geographic boundaries, valuing integration across borders, and appreciating regional and cultural diversity. An innovation mindset, meaning a mental framework that fosters development and implementation of new ideas, transforms rapid technological change threats into opportunities by valuing constant generation of new ideas and business models, realizing sources of new ideas, and stressing next practices rather than best practices. A virtual mindset, or the ability of managers to hand over their firms' activities to external providers, turns hypercompetition into prospects for growth by facilitating flexibility and responsiveness. Finally, a collaboration mindset, meaning a willingness to engage in business partnerships, converts all three challenges into opportunities by allowing firms to form successful partnerships that can lead to synergy by combining business complementarities.

Suggested Citation

  • Lahiri, Somnath & Pérez-Nordtvedt, Liliana & Renn, Robert W., 2008. "Will the new competitive landscape cause your firm's decline? It depends on your mindset," Business Horizons, Elsevier, vol. 51(4), pages 311-320.
  • Handle: RePEc:eee:bushor:v:51:y:2008:i:4:p:311-320

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    References listed on IDEAS

    1. Kedia, Ben L. & Mukherji, Ananda, 1999. "Global managers: developing a mindset for global competitiveness," Journal of World Business, Elsevier, vol. 34(3), pages 230-251, October.
    2. Kedia, Ben L. & Lahiri, Somnath, 2007. "International outsourcing of services: A partnership model," Journal of International Management, Elsevier, vol. 13(1), pages 22-37, March.
    3. Czinkota, Michael R. & Ronkainen, Ilkka A., 2005. "A forecast of globalization, international business and trade: report from a Delphi study," Journal of World Business, Elsevier, vol. 40(2), pages 111-123, May.
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    Cited by:

    1. Dirk Clercq & Narongsak Thongpapanl & Dimo Dimov, 2014. "Contextual ambidexterity in SMEs: the roles of internal and external rivalry," Small Business Economics, Springer, vol. 42(1), pages 191-205, January.
    2. Felício, José Augusto & Duarte, Margarida & Rodrigues, Ricardo, 2016. "Global mindset and SME internationalization: A fuzzy-set QCA approach," Journal of Business Research, Elsevier, vol. 69(4), pages 1372-1378.
    3. Lahiri, Somnath & Kedia, Ben L., 2011. "Co-evolution of institutional and organizational factors in explaining offshore outsourcing," International Business Review, Elsevier, vol. 20(3), pages 252-263, June.
    4. Yujuico, Emmanuel & Gelb, Betsy D., 2010. "Better marketing to developing countries: Why and how," Business Horizons, Elsevier, vol. 53(5), pages 501-509, September.
    5. De Clercq, Dirk & Belausteguigoitia, Imanol, 2015. "Intergenerational strategy involvement and family firms’ innovation pursuits: The critical roles of conflict management and social capital," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 178-189.

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