uan Benavides is CEO of AFP Habitat, and a former CEO of Falabella.
CEOs in Latin America are required to develop and implement strategic plans to continue growing, but what are the key aspects of this process?
By Juan Benavides
Businesses that are highly regulated, such as the taxi industry, have changed dramatically in recent years. New platforms such as Uber have shifted the way people move within cities, and we are not surprised by the massive protests against Uber by European taxi companies in London, Paris, Berlin and Madrid.
Companies operate in a highly dynamic environment. They are constantly being challenged by their different stakeholders, while competition has no boundaries. New communication systems and technologies have increased the competition in every business.
There are new markets, new products and services, new distribution channels, new talents, new processes, and new technologies. Meanwhile, the life cycle of brands and products is becoming shorter and shorter.
These changes and new tendencies are rapidly shaping companies’ business models, and within this context, companies are required to grow and innovate. Otherwise they are overcome by their competitors or they tend to disappear. Companies that were in the top 10 firms of the S&P just one decade ago are no longer in this group, having been replaced by others such as Apple and Google. More dramatically, Blockbuster and Kodak no longer even exist, having been replaced by Netflix, Amazon, and Samsung. Innovation is unavoidable, and businesses cannot rely on …
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