The Bavarians, the record German champions and the country's wealthiest club, were upstaged last season by Bayer Leverkusen, who stormed to a domestic league and cup double without defeat.
Former Belgium international Kompany, who replaced Thomas Tuchel in the dugout, has been working to restore order in the Bayern ranks and instil confidence among his players.
"Last year they had the same quality in the team but communication between the coach and players was not perfect," former Bayern and Germany captain Lothar Matthaus told an international media round table earlier this week.
"Bayern means 'we are a family' and this we have to live by day after day. Kompany is the coach who can bring that atmosphere back to the team."
Bayern spent around 100 million euros to bring in winger Michael Olise from Crystal Palace and defensive midfielder Joao Palhinha from Fulham.
They also signed defender Hiroki Ito from VfB Stuttgart to shore up a backline that leaked goals during last season's trophy-less run.
"I have a positive feeling regarding this team that seems again to be inspired and ready to attack once more," said Bayern sports director Max Eberl.
But Leverkusen, who have largely kept their squad intact and retained coach Xabi Alonso, will not simply roll over.
The never-say-die attitude that served them so well last season was evident once again on Saturday when they scored a late equaliser in the German Supercup against VfB Stuttgart before winning the title on penalties.
"They have less pressure in Leverkusen than Munich this season," said Matthaus.
"Leverkusen don't have to win. Bayern, after their last two seasons, not only have to win but have to perform as well. Now that is pressure."
Leverkusen officially open the Bundesliga season with Friday's game at Borussia Monchengladbach.
For last season's surprise runners-up Stuttgart, it will likely be a tougher ride than their previous campaign having lost Ito to Bayern and top scorer Serhou Guirassy and defender Waldemar Anton to Borussia Dortmund.
The arrivals of Germany internationals Anton, Pascal Gross and Maximilian Beier could restore Dortmund's credentials as title contenders, though they will have to hope Guirassy fills the gap left by Niclas Fullkrug following his departure to West Ham United.
