ABSTRACT
A new paradigm of competition is facing businesses today. This new environment requires companies to market, design, manufacture and sell a product within shorter time periods than ever before. Likewise, companies must be able to respond to and collaborate with global competitors to compete in the world economy. Companies can not afford simply to react to the market in the development of new products. Instead, they must understand the potential future of the market. More flexible companies that embrace change are replacing mass production. Companies must create new opportunities for profit and growth and establish an entire new competitive environment.
