Business is more competitive once again. However, what determines success?

Over the last week, many were relieved that finally, one could see a clear road forward. However, there was much commentary on how aggressive the market will be and how the competitive battle is already in full flow. It is natural but equally there are clients noting that many have just not listened or adapted to the changes that they desire. This will create interesting friction in the market and raise questions – what will be the key factors in creating success? Who will adapt best? Who will come out well?

There have been those who have been cynical throughout about the narrative over how the market will change. They have always believed that the market will return to how it once was; maybe not in 2022 but certainly in 2023. Is it really likely that we will see a return to 2019 models? The odds must be against it but this is still to be discovered.

However, many larger companies are also noting that they have been unexpectedly losing business to local suppliers and entrepreneurs. Even some very large organisations are seeking to create partnerships with entrepreneurs and talent in a way that would not have happened in 2019.

It is becoming an unpredictable market and one which will challenge the most established and able.. However, wherever one turns, clients are asking for stronger and greater partnerships which return to an ethos of real value add and service.

Both the Public and the Private sectors are going to remain challenged in 2022. Even if models do start to stabilise, it will take time to rebuild. It is logical that companies will seek stronger partnerships as they are being asked to commit and invest more at a time when they are already under pressure. Many thought sustainability would take a backward step during the pandemic but the opposite has happened. It is now an essential strategic piece for all. Reports are that reservations and bookings are returning strongly for the end of Q1 and forward. This is encouraging but the real question is what will be needed to win the best business?

The answer is likely to lie in the major pillars that traditionally have made all businesses prosper. It is not rocket science; if a market is competitive, it will e those who deliver excellence who will in – excellence in price, in service, in people, in experience. These are the core pillars that have long built success and will be no different going forward.

If the battle is back in full flow, then it will be fascinating to see who does gain ground and keep it.