Developing Competitive Advantage: The reason behind Apple success - Essay Example

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The research analyses Apple competitive advantage, the area of competitive advantage that Apple enjoys and based on its competitive advantage. A plan for the management is defined stating the strength and also competitive advantage of the Apple organization. …
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Developing Competitive Advantage: The reason behind Apple success
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Download file to see previous pages The paper tells that a sustainable competitive advantage means way of providing value to customers which is different and unmatched from its competitors. Strategy is linked with the definition of competitive advantage and its development of resources, capabilities and activities that usually enables a firm to sustain its competitive advantage which helps it to sustain in the changing world. Therefore competitive strategy aims to define the way a firm competes in a given industry. The competitive strategy of a firm is to create a valuable position in its related industry. This process involves the vision of the type of customers the firm tends to serve and the method by which it tends to deliver value for its customers. But as mentioned earlier, competitive strategy is not just vision it’s more than a vision of the firm, it involves the processes and activities in order to enable a firm to create value which are unique for its customers. Competitive strategy can be defined as the search for a firm’s competitive position in an industry. Competitive strategy aims to achieve a sustainable position as against the forces which determine competition among the industries. There are two set of question that determines the choice of a firm’s competitive strategy. First question is the attractiveness of industries in terms of profitability and the factors which determine the profitability and secondly the determinants of the competitive position within the industry. But both these factors are interrelated with each other. A firm may be positioned in a very attractive industry but it could not earn attractive profits because of the poor competitive strategy adopted by the firm. Similarly a firm with good competitive position but in a poor industry would result in similar situation as in the first case. Therefore industry attractiveness and competitive position are both shaped by a firm and this factor makes the choice of competitive strategy a much more challenging process for the firm. Competitive advantage is achieved out of value which a firm is able to create for its respective buyers. The main aim of competitive strategy is to change the rules of the firm in its favour. In all the industries, whether domestic or international the rules of competition are held within the five force of competition which includes the bargaining power of buyer and suppliers, threat of new entrant, threat of substitute and rivalry among the existing firms. Thus these five forces determine the firm’s ability to earn profitability. The strength of the five forces varies from industry to industry. A firm’s completive position depends on the competitive strategy adopted by a firm. The fundamental basis of performance which is above average is due to sustainable completive advantage of a firm. There are mainly two basis types of competitive advantage that a firm can hold is low cost or cost leadership and differentiation. These two competitive advantages when coped with the activities which a firm desires to achieve had lead to three generic strategies of an industry which includes cost leadership, ...Download file to see next pagesRead More
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