Beware of changing business dynamics
A leading international academic reminds Gulf businesses that competition is increasing in the New Economy, and that only the responsive will survive
A leading international academic has reminded Gulf businesses that falling barriers to entry will subject them to more and more competition in the future.
Professor Michel Tuan Pham, associate faculty director of Columbia Business School, was speaking in advance of his debut trip to the Gulf in May when he will jointly conduct an executive education programme ‘Marketing Management In The New Economy.’
The programme, to be held at the Emirates Towers Hotel in Dubai from May 7-9 will be Columbia Business School’s first executive education programme of 2001 in the Middle East. The event is organised by Dubai-based Leading Concepts.
“The turn of the century and of the millennium was primarily symbolic,” said Pham. “In reality businesses have been transitioning into the ‘New Economy’ for the past 15 years. Yet, seeing the current business environment as “business-as-usual” is a mistake. Globalisation, greater sophistication of customers, acceleration of product life cycles, information intensity etc all change the rules of the game.”
Prof. Pham says that competition in the future will be coming from all directions. “Companies that you probably didn’t know even existed suddenly vie for your customers or suppliers,” said Pham. Your toughest competitor in one market may be your best supplier in another.”
Prof. Pham holds a licence in applied economics from the Catholic University of Mons, Belgium, and an M.A. and PhD from the University of Florida. He is also a Fellow of Intercollegiate Centre for Management Sciences and serves on the board of directors of the Advertising Educational Foundation.
The executive education programme will focus on a swathe of issues, including creating market focused strategies, strategic pricing, positioning, defensive and communication strategies, competitive analysis, branding, and decision-making pitfalls. The principles espoused in the programme will be illustrated by numerous case studies.