We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

How firms gain competitive advantage in the changing business dynamics - Essay Example

Comments (1) Cite this document
Summary
The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes and helps to understand, anticipate, evaluate and analyze changes to identify the drivers of change…
Download full paper
GRAB THE BEST PAPER
How firms gain competitive advantage in the changing business dynamics
Read TextPreview

Extract of sample
How firms gain competitive advantage in the changing business dynamics

Download file to see previous pages... The intention of this study is the change management that has increasingly become key element of competitive advantage for the business organizations in the current environment of volatility and rapidly transforming socio-economic and political imperatives. The need to identify the drivers of change and incorporating the same within the business strategies by organizational leadership has become top priority for mot only to succeed but also to survive. The five authors discussed in the paper believe that changes are good for the firms and firms which have flexible approach are better able to absorb changes and surge ahead of others. In the highly competitive market, firms need to leverage their competencies for competitive advantage. The various modules and mechanisms of evaluating and analyzing the performance metrics become highly critical factors for success of the firm. The internal and external exigencies influence the performance of the firms and therefore need to be analyzed, evaluated and exploited for gaining leverage against their rivals in the industry. Indeed, the firms survive or fail in the competitive market mainly because they either unable to anticipate changes in the environment or failed to exploit the opportunities that were offered by the changes to survive and gain competitive edge. The visionary outlook of the leadership and the innovative approach of the firms are vital inputs that facilitate and create opportunities to maintain their niche market position. The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes....
The paper would primarily be evaluating the works of five authors who have introduced radical concepts in the business strategies to cope with the environmental changes. Section 1 What is change and how companies cope with changes Change is inevitable and irreversible process that provokes reaction and forces people out of their comfort zone. Most importantly, impact of change becomes most visible when it is viewed adversely. Bateman and Zaithaml (1990) stress that organizations need to change because the environment within which they operate is constantly changing. The organizational leadership therefore becomes the vital ingredient that prepares and motivates people to become flexible. It not only helps them to adopt changes but also to look for opportunities in contextual changes which can be exploited for improving their productivity and outcome. As the following authors assert, changes become enabling factors when they are explored for opportunities. Indeed, the authors have different perspective on change and change management. Change management has become a critical issue for firms. They emphasize that it helps them to understand, anticipate, evaluate and analyze changes to identify the drivers of change and explore opportunities for exploiting them. They believe that changes are good for the firms and firms which have flexible approach are better able to absorb changes and surge ahead of others. Some of the mechanisms that are evolved to cope with changes are: fostering business alliances; using technology; thinking out of the box; being innovative through new development and R&D; creating learning environment; exploiting human ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“How firms gain competitive advantage in the changing business dynamics Essay”, n.d.)
Retrieved de https://studentshare.org/management/1391379-change
(How Firms Gain Competitive Advantage in the Changing Business Dynamics Essay)
https://studentshare.org/management/1391379-change.
“How Firms Gain Competitive Advantage in the Changing Business Dynamics Essay”, n.d. https://studentshare.org/management/1391379-change.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ar
aron90 added comment 24 days ago
Student rated this paper as
At first, I thought 13 of pages is too much for such a question. But now I see it could not be done smarter. As the author starts you see the depth of the question. I’ve read all at once. Perfect paper
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
How can product innovation help build competitive advantage for cosmetic firms in London Case Unilever
The main objective of this research is to explore various literatures that are focused upon product develop and product innovation through research and development and technological innovation within a company; to identify how research and development and product innovation can help the firm build competitive benefit.
34 Pages(8500 words)Essay
Globalization: Analysis of Competitive Advantage
In the present day and age, it is even more difficult to find sources of sustainable competitive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities.
22 Pages(5500 words)Essay
How do companies use global strategy to gain competitive advantage
It has been observed that every company or business desires to expand worldwide and operate globally. It is also known as the process of interchanging the views, products as well as cultures in the global periphery. The barriers for international business have been witnessed to have reduced significantly in the recent years.
12 Pages(3000 words)Essay
How Do Companies Use Global Strategies to Gain Competitive Advantage
The present study analyzes how companies use the global strategy to gain competitive advantage. Also the essential success factors of firms to succeed in the international business have been discussed. Add to that it has also been discussed that how companies can fail in the international market due to lack of planning and vision.
13 Pages(3250 words)Essay
Marketing. Firms gain competitive advantage
Both FedEx and UPS use information technology recasting the process of management, providing powerful new capabilities to help managers strategize and plan, organize, lead, and control. Companies may decide not to automate, rationalize, or reengineer place functions, but logistics companies are forced to use the Internet and other technologies to conduct all their business, or a proprietary network.
6 Pages(1500 words)Case Study
How 'In the current environment knowledge and its effective management are central to gaining competitive advantage' Discuss
to hire firms with their own core competencies to perform other tasks that are required as a part of organizational activity.(Prahalad and Hamel, 1990). Thus, in order to sustain a competitive advantage in the global marketplace, many organizations are focusing on knowledge
4 Pages(1000 words)Essay
Critically examine how a firms HR strategy could be its source of competitive advantage
The companies have reaped success with an earnest effort and a desire to make it big within the comity of nations and that too on a constant basis. The resilience has been there
8 Pages(2000 words)Essay
Critically examine how a firms HR strategy could be its source of competitive advantage
However, outside of the regular business review and oversight is the necessity to create a quality human resources system which provides benefit to both the business and the employee. When a
10 Pages(2500 words)Essay
The role of information systems (IS) in achieving competitive advantage: a study case of Communication Sector in Saudi Arabia
vement of the firm’s position in the global market but also with the ability of the firm to survive under severe pressures – like in the case of current financial crisis. Information systems are commonly used as a tool for the achievement of the above targets (Yolles, 2009,
8 Pages(2000 words)Essay
A critical analysis of how to gain competitive advantage and managing in hospitality industry through management of cultural diversity
This wide practice of travelling to different parts of the world became popular especially after globalisation. The various corners of the world were
10 Pages(2500 words)Essay
Let us find you another Essay on topic How firms gain competitive advantage in the changing business dynamics for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us