View article

There have been drastic changes in a variety of corporations’ competitive conditions. Goods, labor, and information markets are increasingly globalized. The use of new communication networks provides worldwide access to previously difficult to reach markets. Competition is intensified through new competitors’ entrance into formerly local or proprietary markets. East Asian suppliers’ success, especially in the field of industrial mass products, is impressive. Since the opening of the borders to East European markets, suppliers have emerged whose national economies allow the production of industrial goods at substantially lower costs and – while simultaneously improving the quality of their goods and services – are increasingly gaining access to world markets. Today, qualified service providers offer their services worldwide by means of data networks.

In addition, we observe a shift from seller to buyer …