Introduction and Motivation

Abstract

Walther Rathenau, an influential German industrialist, politician, and writer at the beginning of the 20^th century, reveals with crisp irony the close ties between innovative ideas and competiveness. Just as in Rathenau’s time, 100 years ago, companies today have to concentrate on maintaining and preferably improving their competitive position under constantly changing market conditions. In this spirit, each company must develop a well-adapted competitive strategy when entering a new market, and once present in this market, further adapt this strategy to the conditions and trends of the particular industry and the characteristics of the market (Porter 1998).