CHALLENGES AND OPPORTUNITIES OF SUSTAINING GLOBAL COMPETITIVE ADVANTAGES: LESSONS FROM GLOBAL CORPORATIONS’ TECHNOLOGY STRATEGY
DOI:
https://doi.org/10.29121/ijetmr.v11.i6.2024.1468Keywords:
Competitive Business Environment, Global Competition Strategies, Corporate Challenges and Opportunities, Competitive AdvantagesAbstract
This research examines the complex issues facing corporations due to rapid advancements in science, technology, and sociology. The increased complexity of the competitive environment impacts both private and public sectors despite societal advancements. An inspection of indicators like the sluggish growth rate of the U.S. private sector reveals corporations' struggles. The need for a balance between stability and growth in the global corporate arena becomes clear, as does the relevance of comparative strategic approaches. Another key finding is the impact of globalization, notably positive in the case of South Korea, on corporate strategies. However, maintaining a competitive advantage challenges top South Korean corporations. The employee survey findings underline the need for continued success in changing global dynamics. The study evaluates the evolving role of corporations beyond profit creation and stresses the importance of clear company objectives and strategies. The conclusion emphasizes the significance of a well-defined corporate strategy in successfully navigating the complicated global business environment, with insights pertinent to global corporations.
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