"Finally, in the context of rigid labor markets and limited domestic competition, the authorities must implement additional structural reforms to absorb the large labor slack and spur economic growth.Fazem isto:
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In particular, countries with (i) more flexible labor markets; (ii) more developed manufacturing industries, relative to services sectors; (iii) more intense local competitions; and (iv) higher integration with the global value-chain, tend to export more domestic value-added."
"firms in some sectors will be neck-and-neck. In turn in such sectors, increased product market competition, by making life more difficult for neck-and-neck firms, will encourage them to innovate in order to acquire a lead over their rival in the sector. This we refer to as the escape competition effect. On the other hand, in unleveled sectors where firms are not neck-and-neck, increased product market competition will tend to discourage innovation by laggard firms as it decreases the short-run extra profit from catching up with the leader. This we call the Schumpeterian effect. Finally, the steady-state fraction of neck-and-neck sectors will itself depend upon the innovation intensities in neck-and-neck versus unleveled sectors. This we refer to as the composition effect.Trechos iniciais e gráfico retirados do relatório do FMI de Maio de 2015 sobre Portugal.
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Prediction 1: The relationship between competition and innovation follows an inverted-U pattern.
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Prediction 2: More intense competition enhances innovation in "frontier" firms but may discourage it in "non-frontier" firms."
"Em países como a Grécia, Irlanda e Portugal, o aumento da desigualdade nos rendimentos do trabalho foi fortemente influenciada pelos efeitos do desemprego, no entanto as diferenças salariais reduziram-se por causa dos cortes nos salários do sector público."Sim, é verdade:
"Os cortes salariais aos funcionários públicos podem ser um instrumento eficaz para combater as desigualdades de rendimento, tendo em conta experiências recentes em países como Portugal, Grécia e Irlanda, conclui a Organização para a Cooperação e Desenvolvimento Económico (OCDE), num estudo sobre a desigualdade nos países desenvolvidos, hoje divulgado.Recordar:
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Analisando o período de 2007 a 2011, período da crise financeira global que acabaria no resgate de vários países da zona euro, a OCDE conclui que Grécia, Irlanda e Portugal registaram um aumento das desigualdades dos rendimentos do trabalho (que inclui rendimentos de trabalhadores por conta de outrem ou TCO e por conta própria), mas analisando apenas o universo dos assalariados composto pelos TCO, a organização tira a conclusão oposta.
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"Nestes três países a desigualdade salarial caiu, talvez devido a reduções dos salários do sector público, que tiveram efeitos maiores na parte superior da distribuição de rendimentos", diz o estudo."
O salário médio no público é de 1600€, nas empresas públicas de 2200€. No privado, está abaixo dos 1000€. #PrincípioDaIgualdade
— Carlos G. Pinto (@carlosgpinto) May 15, 2015
Recordar "Salário médio nas empresas públicas subiu 8,6%"
"So how do you really create strategy, rather than end up with a hodgepodge list like this? By following these steps:Agora vamos à ISO DIS 9001:2014.
Identify which stakeholders you depend on for success.[Moi ici: 4.2 a)]
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Your organization or unit is completely dependent on others outside it for its good fortune. Without the support of stakeholders such as customers, suppliers, employees, and shareholders, for example, you have no organization. But you have to identify those who are key to the long-term survival and prosperity of your organization — and then satisfy them.
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Recognize what you want from your stakeholders.
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Why is sorting out the from so important? What an organization wants from each group of key stakeholders translates neatly into its objectives.
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Although objectives and clear targets aren’t a substitute for strategy, you do need to design them, stakeholder group by stakeholder group, before you can develop a smart strategy for each group. Otherwise, any old strategy will do. Unfortunately, strategies are often created in a vacuum. They won’t be meaningful if you haven’t decided what you want them to achieve.
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Recognize what your stakeholders want from you. [Moi ici: 4.2 b)]
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When you articulate what key stakeholders want, you’re defining what I call “strategic factors.”
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Strategic factors bring an external perspective."
"4.2 Understanding the needs and expectations of interested partiesO problema é depois as políticas da qualidade que se escrevem...
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the organization shall determine:
a) the interest parties that are relevant to the quality management system;
b) the requirements of these interested parties that are relevant to the quality management system"
"a single 3D printer can produce engine pumps one day and crankshafts the next. The technology’s flexibility introduces synergies where none existed before. [Moi ici: Olhar para dentro, produção e eficiência]Julgo que o exemplo das multinacionais pode merecer reflexão que tempere a opinião de D'Aveni. Atender a "The New Mission for Multinationals":
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Running plants at full capacity is often a key to profitability in manufacturing.[Moi ici: Olhar para dentro, produção e eficiência]
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3D printing offers even more advantages to these groups. Most of their sales are now overseas, but the individual businesses aren’t big enough to justify dedicated factories in Europe and Asia to better serve these markets. When combined in a conglomerate, however, the businesses could have enough scope to make overseas printer farms practical.[Moi ici: Olhar para dentro, produção e eficiência]
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When printer farms become such a readily available commodity in the marketplace, conglomerates will lose their advantage in manufacturing synergies."[Moi ici: Talvez em alguns sectores muito regulados, com elevadas barreiras à entrada, esta vantagem dos conglomerados possa ser verdade]
"As local companies win an increasing share of markets in emerging economies, multinationals need to let go of their global strategies and embrace a new mission: Integrate locally and adapt globally.Julgo que em mercados com baixas barreiras à entrada, a democratização da produção vai acelerar de tal forma o modo de interacção produção-clientes que a a rapidez e a flexibilidade vão ser chave
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Something strange seems to be happening as globalization marches forward: Increasingly, powerful local companies are winning out against multinational competitors. This is especially true in emerging markets, where multinationals are assumed to enjoy superiority and their CEOs are counting on growth.
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Our data demonstrate the shortcomings of this traditional multinational approach in emerging markets. In dynamic markets, local adaptation is, at best, a catch-up strategy. To win in today’s global environment, companies will need to create new advantages in target markets by integrating their businesses with the local commercial networks and the society itself. They will need to help shape local markets rather than just adapt to them.
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[Moi ici: IMHO o grande trunfo, neste mundo que aspira a doses crescentes de interacção e co-criação] "locally integrated companies forge deep relationships with customers in ways that go well beyond market feedback. By connecting with customers’ lives and working closely with local influencers and lead users, companies can create new markets or embed their products and brands into local networks."
""Para tal, muito contribuiu o esforço acrescido de promoção neste mercado, pelas empresas, mas também o surgimento de empresas de gente nova, com 'design' muito bom e com padrões de qualidade elevados, que desde o nascimento apostam neste mercado", vincou."
"A inovação é para João Brandão um factor estratégico decisivo no sucesso da empresa. O binómio flexibilidade industrial/ capacidade de inovação é um trunfo na diferenciação face à concorrência. "Somos inovadores no automóvel porque levamos conceitos de outras áreas de actividade e podemos inovar noutras áreas aproveitando esta polivalência", diz o gestor."
"O que provocou o interesse dos participantes foi o facto de no CeNTI (Centro de Nanotecnologia e Materiais Técnicos, Funcionais e Inteligentes), em Vila Nova de Famalicão, a equipa de Nelson Cardoso estar a desenvolver uma nova geração de fibras de poliéster termorreguladoras, com aplicações que vão da roupa de todos os dias aos edredões, passando pelo vestuário protector dos adeptos de ambientes extremos.
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Cruzámo-nos também com uma empresa portuguesa que quer assumidamente fazer entrar os têxteis técnicos na roupa habitual. “Queremos levar novas funcionalidades para a roupa do dia-a-dia”, disse-nos Ana Salcedo, co-fundadora e directora de I&D da Manifesto Moda, com sede em Guimarães, enquanto nos mostrava, penduradas num varão, várias peças de vestuário com aspecto confortável – e algumas até bastante elegantes. Há lá, entre outros, T-shirts que contêm bio-repelentes de mosquitos e que são “muito práticas em climas quentes” – podendo mesmo contribuir para a protecção contra doenças transmitidas por estes insectos. “A eficácia da repelência dura mais ou menos 70 lavagens”, diz-nos Ana Salcedo. “Usado esporadicamente em viagem, pode durar mais de três anos; usado com bastante frequência, entre um e dois anos.”
"Business Is a Game of Margin, Not Volume. [Moi ici: Nunca esquecer: Volume is Vanity, Profit is Sanity]Recordar:
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Many large company leaders seem to sincerely believe, albeit blindly, that volume and market share are the secrets to business success. If that is the case, then why are multiple billion-dollar corporations filing bankruptcy every year in the United States? In the years between 2000 and 2004, 23 of the 40 biggest bankruptcies of all time occurred.
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business is, indeed, not just a game of volume and market share. A business must maintain an adequately high price against its costs (a high gross margin), or it is going to follow these well-known predecessors down the well traveled path to bankruptcy court.
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But We Can Make It Up in Volume. When businesses get into financial difficulty, it’s inevitably because some genius gets the bright idea that one can cut price and make it up in volume - to at least be “competitive.” Most people get that idea when they take a course in economics. In fact, if you have anything to do with selling or pricing, one of the worst things that may have ever happened to you was taking Econ 101 when you went to college. [Moi ici: Malta da tríade (políticos, académicos e paineleiros), todos veneram as equações das commodities].
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Just to emphasize the point that the bulk of our population thinks that the only way to do business is to cut price and make it up in volume,"
"While annual gross payments related to PPPs are expected to be reduced by about 20-25 percent following successful contract renegotiations, they will remain a drag on the budget, stabilizing at about €1.5 billion (0.8 percent of 2015 GDP) until 2022, before slowly declining to about €0.6 billion in 2030. Re-negotiations of concessions and PPPs should therefore be pursued forcefully."Impressionante!
"Providers of luxury need to offer more than expensive baubles to take advantage of a growing market [Moi ici: Isto tem tudo a ver com o texto da parte III "Quando uma empresa se concentra no que transacciona, perde uma oportunidade tremenda de co-criar valor e captar mais algum para si, perde uma oportunidade tremenda de se diferenciar, não pela oferta mas pela transformação na mente do cliente, não por produto/serviço mas pela experiência, pelo resultado." ]Entretanto, encontrei esta reflexão "A revolução do outdoor - Parte I":
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If sophisticated consumers are shifting their preferences from handbags to handlebars, makers of luxury goods need to pay attention. The rich set trends, and their notions of luxury trickle down. European consumers now “put more value on inward things”,
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Even the Chinese are tilting a bit from having to being
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What qualifies as an experience people are prepared to pay for is also changing, to something more elaborate, more private and sometimes even stripped almost bare of conventional comforts.
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If ownership does become separate from enjoyment, makers of luxury goods will have something to worry about. That moment may not have arrived yet, but as consumers become more sceptical, more discriminating and more interested in experiences, it is coming closer."
"Mais de 140 milhões de americanos gastam coletivamente 646 mil milhões por ano em atividades recreativas ao ar livreComo não pensar logo no exemplo da inGamba
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O Reino Unido tem, também, testemunhado um crescimento substancial nesta área
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A China regista um crescimento similar. O seu mercado de outdoor está avaliado em 3 mil milhões de dólares, face aos 161 milhões assinalados há uma década.
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os consumidores privilegiam, cada vez mais, as experiências em detrimentos de produtos físicos...
«Não está relacionado com a posse do produto mas sim com a variedade de experiências. Os consumidores não querem comprar equipamentos para uma experiência»"
"Apesar do crescimento acelerado nos últimos anos, Paula Sousa rejeita a industrialização da produção. O mobiliário da Urbanmint distingue-se pelo design inovador e elevada qualidade do fabrico artesanal.E a propósito do título e da importância da comunicação, recordar o que se disse sobre o luxo:
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A nossa verdade [Moi ici: A autenticidade]: a cultura artesanal, o nosso legado, o saber fazer bem feito, o nosso perfeccionismo... Eles ficaram muito impressionados com isso.
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A indústria mundial do mobiliário está muito massificada. [Moi ici: Recordar o Mar del Plastico e os russos] E nós temos esse valor cultural, muito enraizado na forma de fazermos as coisas. Ele adoraram isso. Claro que já tínhamos massa crítica do ponto de vista editorial, de presença em revistas. Já tínhamos um bom portefólio de projectos de privados e ‘contract'.
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Porque não queremos evoluir para a industrialização. Queremos manter a nossa génese, que é a produção manual."
"E voltando ao luxo, pode-se produzir muito bem mas o luxo é mais do que o tangível. O luxo é sobretudo a constelação de histórias que acompanham algo e dão um substracto de intangibilidade"BTW, material para os blocos do modelo de negócio:
"Em 2008 criou a marca e, para ganhar notoriedade, contou a sua história às revistas internacionais da especialidade. Quando a ‘Corset' foi capa de uma importante publicação britânica de design de interiores, os clientes começaram a bater à porta.
"A validação na área do design e das indústrias criativas pode ser feita através de vários métodos. No nosso negócio, que tem uma componente de design e também comercial, o reconhecimento por editores é muito importante. E o reconhecimento por prémios tem uma importância adicional", sublinha Nuno de Sá, responsável pela comunicação e marketing da Urbanmint.
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E galardões também não faltam. A Munna já foi distinguida com o Prémio Internacional de Design e Arquitectura, promovido pela conceituada revista britânica "Design et al". A primeira vez foi em 2012, com a poltrona ‘Becomes Me'.
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"Esse prémio foi um bom tónico para a Munna que já era uma marca popular no design de interiores no Reino Unido. E repetimos esse prémio em 2014 com o sofá ‘Hughes'. Trabalhamos para satisfazer os clientes, que são os designers de interiores e, em última análise, os clientes finais. E nesse sentido os prémios são apenas a cereja em cima do bolo"."
"For most of its history, the practice of medicine has focused on acute health events. A child gets the sniffles, a man collapses from a heart attack or someone breaks an arm and a doctor is supposed to cure them. Yet today, seven out of the top ten causes of death are chronic conditions, such as cancer, Alzheimer’s and diabetes, which are fundamentally different.Umas horas antes de ler isto, tinha comentado e favoritado no Twitter:
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Unlike treating a communicable disease, reviving a patient or mending a bone, with a chronic disease, doctors can’t merely “see” a patient, prescribe a cure and move on to the next one. They must work with their patients on an ongoing basis - for years or longer - to monitor and manage the condition.[Moi ici: Cheira mesmo a caldo maduro para novos modelos de negócio. Sintomas aparecem todos os dias. Por exemplo "Há consultas médicas gratuitas em Bragança", "Projecto de estudantes de medicina leva a saúde à porta de 26 idosos de Lisboa" e "Uma verdadeira mudança de paradigma na saúde"]
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Dr. Chin calls this a shift from “eminence-based care to evidence-based care.” In the old model, doctors were seen as the primary sources of medical information and diagnoses. Yet today, they must partner with a network of caregivers and information sources, as well as an entirely new ecosystem of technology, data and analytics to ensure top quality care."
"Imaginem um fabricante de palmilhas, muito certinho, muito eficiente, confiante no casulo da sua pacata rotina de conforto, sempre acreditando que no dia seguinte o queijo lá estará à sua espera.Encontrei um artigo sobre o tema e com uma perspectiva muito interessante, "Break your product into new markets by raising the price". O autor começa por recordar o famoso livro "O Dilema do Inovador" e, a lição de como fazer frente a eventuais disruptores na base do mercado. Depois, a coisa torna-se muito mais atraente:
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Agora, imaginem um novo player a entrar no mercado e a seguir a máxima deste blogue "é meter código nisso"..."
"today, more and more companies are learning the hard way that a competitor that caters to the high-end of the market could upend them. Disruption is coming from all sides, not just the bottom. The challenge is to innovate toward the middle, but you can start from anywhere.A quantos e quantos produtores poderá acontecer este choque contra a parede de uma nova realidade?
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Honeywell experienced this firsthand when Nest’s Learning Thermostat arrived on the scene in 2011. The massive conglomerate had done exactly what Christensen advised: they catered to the low-end of the market by selling $30 thermostats. But what they didn’t anticipate was that a beautifully designed, high-end model - priced eight times higher than their product - would beat them at their own game. [Moi ici: O mesmo fenómeno que aconteceu com o mercado dos aspiradores, "98 anos eliminados em 18 meses ao dobro do preço"] ...
starting at the top provides an advantage that low-end disruption lacks: it allows you to imbue your brand with aspiration."
"BTW, este fim de semana vi num canal do cabo, tipo National Geographic(?), um documentário sobre os Nabateus e a civilização de Petra. Uma parte desse documentário não me sai da cabeça... a parte em que se refere a técnica dos Nabateus para transportar água ao longo de km e km. Eles desenhavam a inclinação das tubagens não para a máxima eficiência de caudal transportado mas para a mais eficaz. A máxima eficiência leva à rotura frequente das tubagens."E ainda:
"Sonny, we’ve been in business for 85 years. What makes you think we won’t be in business another 85?"Acredito, cada vez mais, que à indústria do papel e da pasta em Portugal são permitidas coisas que em mais nenhum país da Europa se permitem. Daí esta violação constante de Pandora.
"O secretário-geral do PS, António Costa, considerou hoje que o setor da construção é "vital" para o crescimento económico e defendeu que é necessário um amplo consenso nacional em torno do objetivo da reabilitação urbana.BTW, recordar:
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nenhum país pode crescer “deixando colapsar o setor da construção civil, que perdeu desde 2008 37 mil empresas e 260 mil trabalhadores, e apostando exclusivamente nos bens transacionáveis”"
"Complex adaptive systems and evolution select for resilience, not stability."É preciso cultivar a tal ambidextridade e, apostar simultaneamente na "exploration" e na "exploitation".
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"Stability gets killed by next disease, next pest, next competitor, next predator, next crisis
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Resilience is evolving towards greater evolvability, enabling creativity and emergence"
"valuable learning comes not from being told a fact. Recited facts are “inert” ideas disconnected from the fullness of our understanding. Valuable learning, says Whitehead, means discovering “living” knowledge: ideas “utilised, tested, or thrown into fresh combinations.”Trechos retirados de "The Secret"
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So where do organizational capabilities come from?
Wrong answer: Organizational capabilities come from researching “best business practice.” I often have executives come to Stanford thinking they will write down inert ideas told to them by professors. There can be some value in this exercise, but frankly you could parrot inert ideas more efficiently using information technology. Besides, everybody else can easily find out these inert ideas too. A list of best practices will not make you a great company, any more than finding a recipe will make you a great cook.
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Right answer: Design your organization so that it develops new capabilities. We know that some companies learn much better than others. Make it your job, as a leader, to help your organization be better at learning. Structure your organization so that your people must engage with important, unsolved problems. Establish routines that allow for failure and reward those who try to discover – regardless of the ultimate outcome."
"Declining Gross MarginA declining gross margin indicates that there is a pricing problem.
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The only way that gross margin (as a percentage of sales) can go down is if a business cuts its prices or fails to raise its prices when its costs rise. That’s it. Even though that can occur three different ways, the bottom line is the same: The sales price is too low relative to the cost of goods sold.
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Declining gross margin should inevitably send a signal to an organization that it is experiencing a pricing problem that will ultimately result in trouble. It clearly signals either an inability or an unwillingness to sell its products or services at a high enough price in comparison to the costs.
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Wages, as a Percentage of Sales, Begin to IncreaseA second condition that normally prevails when any entity fails financially is that wages, as a percentage of sales, begin to increase. This normally occurs because the organization just has too many people on the payroll or too many people making too much money.[Moi ici: A margem baixa mas os salários não baixam, logo... ]
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Sales Volume Increases
Surprisingly, most entities that go broke do it during a period of an increase in sales volume. [Moi ici: Recordar o proverbial "Estávamos cheios de encomendas e a fazer horas-extras"] This statement shocks most people (especially those involved with sales) because most everyone mistakenly believes that a business fails as a result of a lack of sales volume. The facts are, however, that business is not a game of volume. Business is always a game of margin. If a business doesn’t maintain gross margin at an adequate level, it is going to go bust, regardless of its sales volume. Cheap seats, cheap products or services, and giveaway prices really do have a way of attracting more and more customers. Have you ever seen a yard sale go wanting for customers? We don’t think so. Lots and lots of items for sale and all at very low prices."
"This approach to business is sometimes called the “Hollywood model.” A project is identified; a team is assembled; it works together for precisely as long as is needed to complete the task; then the team disbands. This short-term, project-based business structure is an alternative to the corporate model, in which capital is spent up front to build a business, which then hires workers for long-term, open-ended jobs that can last for years, even a lifetime. It’s also distinct from the Uber-style “gig economy,” which is designed to take care of extremely short-term tasks, manageable by one person, typically in less than a day.Porquê a transição para este modelo?
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With the Hollywood model, ad hoc teams carry out projects that are large and complex, requiring many different people with complementary skills. The Hollywood model is now used to build bridges, design apps or start restaurants. Many cosmetics companies assemble a temporary team of aestheticians and technical experts to develop new products,"
"Our economy is in the midst of a grand shift toward the Hollywood model. More of us will see our working lives structured around short-term, project-based teams rather than long-term, open-ended jobs. There are many reasons this change is happening right now, but perhaps the best way to understand it is that we have reached the end of a hundred-year fluke, an odd moment in economic history that was dominated by big businesses offering essentially identical products. Competition came largely by focusing on the cost side, through making production cheaper and more efficient; [Moi ici: Estou inchado como um perú!!! Leu isto primeiro neste blogue há vários anos!!! Desde o Vieira da Silva ao Gaspar, desde o Ferraz da Costa ao Ferreira do Amaral, ainda andam atrás dos cêntimos da melhoria da produtividade baseada no denominador] this process required businesses to invest tremendous amounts in physical capital — machines and factories — and then to populate those factories with workers who performed routine activities."Quem ganha?
"Obviously this is good news for management and the owners of capital. But as I saw on set, it’s a surprisingly good system for many workers too, in particular those with highly sought-after skills.
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The Hollywood system offers another advantage for workers: Every weekend’s box-office results provide new information about which skills in their field are valuable.
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This continual signaling [Moi ici: Gosto particularmente deste ponto] can be upsetting, of course; every year, some workers in the system learn that they have no marketable skills. But on the whole, it is surely kinder than the factory system, in which workers are able to assess their market value only occasionally: when they first start working, when they switch jobs, when they ask for a raise or — worst of all — when they are fired, often en masse."
"Perhaps the most compelling new feature SOLS is working on involves adding sensors to its in-soles, to truly make shoes “smarter.”Se se barricar a porta, para que um novo modelo de negócio não entre por ela, ele acaba por entrar pela janela, ou pela chaminé.
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Schouwenburg expects to start integrating sensors into her products “within the scope of a year.
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Sensors could be useful in rehabilitation, for instance allowing doctors to monitor a patient’s walking gate to learn more about their injury and help avoid the risk of further damage
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For consumers, a data stream from their shoes could give them feedback on their posture or balance, for instance telling a golfer how good their swing is. “It’s not just counting calories but stance, and looking at how you’re running,”""
"The problem is we spent all our time working in the business and not working on it.E voltando ao luxo, pode-se produzir muito bem mas o luxo é mais do que o tangível. O luxo é sobretudo a constelação de histórias que acompanham algo e dão um substracto de intangibilidade
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all the time you are spending doing jobs that other people could be doing is time that you are not running your business. When you get bogged down in simple details that your employees could be working on, you are not being an effective leader.
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You are responsible for setting goals and thinking about the future. The only person in your company who will be genuinely motivated to grow your company is you. Every minute that you spend working on tasks that can be delegated is a minute that you are not planning, strategizing and building the best business possible."
Muito bom RT @JohnyMS: Curioso comparar a festa do ano passado (espontânea e desorganazida), com a de este ano ("organizada"). Diz muito.
— Carlos P da Cruz (@ccz1) May 18, 2015
Bem lembrado!!!"Value creation is the central idea in any retail activity. The key to sustainable business success is the generation of significant value for the customer, as retailers can only justify their mark-ups and thus operate sustainably successful if sufficient value is generated for the customer.".
"Turning to the fashion retailing industry - this is an example of a market particularly characterized by an increasingly fast pace. Retailers are required to swiftly adapt the product offering to contemporary and increasingly even fleeting trends in order to satisfy customers. Therefore, it is not surprising to find that, first, backward integrated firms, that is, retailers who produce (a certain share of) their own products, also tend to be more successful in fashion retailing (see Figure 2). The reason for the latter phenomenon is that backward integrated retailers are better able to react flexibly to customer demands and to manage and control product quality better. Thus, if retailers can manage to have up-to-date knowledge about the latest fashion trends and customer expectations, then a backward-integration strategy has the potential to generate significant customer value.Trechos retirados de "Value Creation in International Physical Retailing" de Werner Reinartz e Monika Käuferle, publicado por Journal of Creating Value 1(1) 72–78
Second, another related success factor is the usage of a fast-fashion strategy. ‘H&M’ and ‘Zara’ (Inditex) are, amongst others, famous for frequent and short term changes in their product lines to respond and to even foster the fast pace of today’s markets. While ‘H&M’ is able to generate value as it designs its own products, ‘Zara’ (Inditex) successfully responds to the challenging cycle time and can thus ideally adapt to market conditions and customer demands. Thus, if fashion-retailers are willing and able to continuously examine changing market conditions and customer demands, then a fast-fashion strategy has the potential to generate significant customer value."
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