An A.T. Kearney study on competitiveness reveals that nearly 75 percent of European business leaders think competition in their industry is strong or very strong; two-thirds expect competitive pressure to increase.
A.T. Kearney European Competitiveness Study
In a European economy still struggling to emerge from the 2008 financial crisis, what determines a company’s ability to compete? Which sectors or countries are most likely to withstand the mounting pressure from global competitors? How do European companies, large and small, see the competitive pressure in their industries—and how will they meet it?
Our 2014 European Competitiveness study of 831 business leaders across the region sought to answer these questions. We found slight differences across industries and geographies but, overall, what matters most is a company’s attitude toward its ability to change—to transform in preparation for the future. The more holistically a company approaches the process of transforming the different elements of its operating model, the better it perceives its competitive position. And the more a company focuses on balancing strength, agility, and leanness, the more positive and confident it is about its future prospects.
The findings point to clear opportunities for companies to improve their prospects: by working on their operating models; by more fully acting on their belief in transformation and the value of balancing strength, agility, and leanness; and, in general, by integrating transformation into the core of the company.