ABSTRACT
In emphasizing that strategic management consisting of strategy development and strategy execution, the authors highlight how war gaming helps to build the bridge between strategic intent and results. Although competitive advantage is often examined, there has been little discussion of how to address competition. While Porter argues that predicting the future goals of competitors will also add to assessing how competitors might change their strategy, it appears that he is arguing from the point of view of rather stable industries. The erosion of advantage today occurs routinely as a result of dynamic and interactive rivalry. Paul Geroski, former professor from the London Business School, captures these ideas in his call for new approaches for the early warning of new rivals. “New entrants act like other firms: they observe events in the market, develop new ideas, and decide to enter markets using rationale similar to that of incumbents.
