DOI: 10.36347/sjebm.2019.v06i11.003

Pages: 534-538

The environmental dynamics are characterized by unpredictable changes, new technologies, customer preferences and needs that make existing products and services obsolete. In order to minimize outdated threats, companies need to search for information on a larger scale and work harder to monitor the costs, competitors, company capabilities and deployment channels. Strategic innovation through a well-designed competitive framework enables companies to keep pace with customer needs and changes in the economic environment to meet existing markets and prepare for emerging markets, and to win long-term competitive advantage for the company.