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Organisations succeed when they develop competitive advantages - Essay Example

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ORGANISATIONS SUCCEED WHEN THEY DEVELOP COMPETITIVE ADVANTAGES Name Tutor Course College Date Companies become successful from effort and planning than from accident or luck. With major developments in the industry that are notable in every sector, efforts are not just made to be good but to be better than most if not the best…
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Organisations succeed when they develop competitive advantages
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Download file to see previous pages Competitive advantage is gained when companies can provide a better quality of products than other players in the same industry. Companies should consider strategies to deal with the markets that involve new routine and tact. Strategies like setting trend don’t are not likely to kick off well if there are other companies in the market already while imitating the already existing trends may not work especially if other organizations have turned to differentiating their own products. Depending on the specific products an organization is bringing into the market, it is important to realize other companies with the same product and differentiate them. Differentiating products by branding and advertising is a major step in peering through competition (Coker, 2000). It is also important to look into the different ways of expanding on the same product a firm is creating to be at a level ahead of the competition; for example when an aviation company extends to creating a school of aviation to offer courses and training that is especially for their firm. It is also useful to consider taking your consumers’ needs into account and seeking their expectations, for example how they like to have their coffee, with creamer or not. This will enhance on further differentiation of products according to customers’ needs and aids with winning their loyalty. ...
Organizations should also take advantage of public documents like analysts reports for public companies and into market analysis. When other rival companies experience certain challenges, they become opportunities for these companies. When those companies makes successes they yet open an opportunity to think of better unexploited chances that may extend from those of their counterparts. In strategizing, it is important to come up with a plan that works around your competitor’s weaknesses as well as their strengths. One should identify other companies’ weaknesses to make adjustments to them so they can be a step ahead and give their customers a reason to prefer their products. Knowing your counterparts strengths on the other hand, helps you realize how further than them you can get ahead when you use those strengths and upgrade them where you can. They should work around what the other firm is selling, what their resources are and how easy they obtain those resources. In situations where the resource availability is not favorable to the competitors for example raw material location favors your own company. This would be an opportunity to trade with your competitor and gain a little control over them. In other situations where companies have sole control of resources that are either rare or are delicate to handle or are too expensive to manage for example while dealing with precious stones like gold and diamond (Adcock, 2000). It is also important to consider the population of the market, how many people are being targeted for a particular product. If possible a large population of consumers only improve on the quantity of units sold and helps the companies establish a base of consumer loyalty. This base allows ...Download file to see next pagesRead More
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