Challenges of the Butterfly Effect

Prof Rajagopal

Chapter 10 in The Butterfly Effect in Competitive Markets, 2015, pp 248-268 from Palgrave Macmillan

Abstract: Abstract The butterfly effect emerging out of market chaos drives transformation in the business environment and consumer culture along the dimensions of geodemographic reach, which can be evidenced in closeness to dense centers of population, and generate competition among firms to take advantage of scale and trade in specialized products. Firms prepare for going global by boosting their changes in marketing strategies of products and services and triggering impulses on shopping. This chapter addresses the challenges of companies competing in the market that face positive or negative butterfly effects. Multinational companies nurture a set of enterprise-wide mindsets that can maintain a uniformity of purpose while at the same time successfully adapt practices to diverse local economic and cultural conditions. The chapter also addresses emerging theories and practices, knowledge-sharing and building customer loyalty.

Keywords: Business Model; Small Firm; Large Firm; Competitive Market; Market Competition (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43497-5_10

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DOI: 10.1057/9781137434975_10

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