Increasing Competitive Environment Dynamics and the Need of Hyper-Competition for Businesses

Pongsiri Kamkankaew; Vachiraporn  Phattarowas; Surakit  Khumwongpin; Phatcharapron Limpiaongkhanan; Suteera  Sribenjachot

doi:10.14456/jsasr.2022.36

Authors

Pongsiri Kamkankaew Faculty of Business Administration, North-Chiang Mai University, Thailand https://orcid.org/0000-0002-5885-4805
Vachiraporn Phattarowas Faculty of Business Administration, North-Chiang Mai University, Thailand https://orcid.org/0000-0003-3220-9653
Surakit Khumwongpin Faculty of Business Administration, North-Chiang Mai University, Thailand https://orcid.org/0000-0002-3011-1540
Phatcharapron Limpiaongkhanan Faculty of Business Administration, North-Chiang Mai University, Thailand https://orcid.org/0000-0003-4452-4976
Suteera Sribenjachot Faculty of Business Administration, North-Chiang Mai University, Thailand https://orcid.org/0000-0002-4843-1972

DOI:

https://doi.org/10.14456/jsasr.2022.36

Keywords:

Business dynamic; , Competitive Environment; , Hyper-competition; , Strategic Management

Abstract

In a dynamically competitive setting, company processes are more intricate than ever. This academic article addresses the major question: how do business dynamics in a competitive environment lead to hyper competition and what are its consequences for businesses? This academic article investigates these questions through a systematic literature review. This academic article discusses an environment that is hypercompetitive, dynamic, and extremely competitive. It represents the state of discontinuous development—a balanced business environment that is continuously upset by dynamic and persistent development sectors. This academic article also examined the significance of competitive environmental dynamics and hyper competition for firms, both of which are issues that should be addressed. Therefore, this article supports the notion of dynamic competence in a competitive context as a process of making business organizations more accessible and sustaining rivalry through strategic management.

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