THE NEW COMPETITIVE STANDARDS:
Variety: Consumers demand variety. For example, in North America there are 572
different models of cars, trucks and vans available.
Customization: Organizations must have the ability to customize their products and services. Satisfy the customer’s decisions.
Convenience: More and more products and services are available at a touch of a button. Stands to reason that this industry must also adapt.
Timeliness: The early bird will get the market share in the New Economy. Meet customer needs and dramatically shorten performance cycle times.
The new competitive standards affect organizational structures, require moving away from top-down systems and moving towards more flexible networks and work teams. The result is immediate processes and procedures with constant updating of customer-specific information.