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Competitive Strategies. Chaos Camera Company Competitive Advantages - Assignment Example

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This paper analyses the performance of our team in the simulation of a camera company. The team mandated with the task of running the company did a tremendous job through cooperation and hard work and these elements of the team are outlined throughout the whole paper. …
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Competitive Strategies. Chaos Camera Company Competitive Advantages

Download file to see previous pages... The analysis is made on all these accounts and keenly canvasses the company on the competitive advantage it gains over other companies in the industry and the strategies that the company undertakes to sustain this advantage. Competitive advantage being key to any business’ success is therefore a crucial aspect of a company and is well elaborated throughout the course of the paper. An analysis of the strategic approach that the company made to compete successfully in four geographic regions is also made. We also examine the ways that the company could improve the important value chain activities it has. An elaborate break down is made of the company’s corporate social responsibilities it has running and justifications made on why the company is running them. The style of making decisions that the company used is also explained in the paper as well as the decisions that supported the team’s strategy execution efforts. The team mandated with the task of running the company did a tremendous job through cooperation and hard work and these elements of the team are outlined throughout the whole paper. Competitive Strategies In order to find a footing in the fiercely competitive digital camera market, our company had to undertake a series of strategies that helped us be competitive. First and foremost, we had to attract customers with the best possible product at a competitive price. Therefore, we made a high quality product and offered it at a price that gave value for money. The company had to set a price that was reasonable to most customers and at the same time offer a product that was of higher value than what our competitors offered at the same price. Capitalization on attractive growth opportunities also gave our company the edge over other companies in the market. The business incessantly looked for growth opportunities in the market to exploit and make a killing. This helped the company increase its revenue streams as well as better position the business in the marketplace. It is imperative for any business to find ways of lowering their costs. Through this a business is able to make profits out of its business and our company subscribed to this school of thought. The company constantly looked for ways to reduce the operational costs by better managing the functional pieces of the business. The business that better manages its operations to lower its costs and eventually makes a higher profit, holds a competitive advantage over its rivals. (Mooij, (2009) This was one of our company’s fundamental objectives since it helped us gain a competitive advantage over our competitors. Performance targets are a guide as to the amount of revenue or profits that the business should earn over a given period of time. These targets are crucial since they guide the company on how much to strive for but the targets should not deviate and contradict with the quality of the product. The company always ascertained that performance targets and product quality were directly related therefore ensuring that product quality was not severed in the process of achieving high performance targets. Sustainable Competitive Advantage Gaining a competitive advantage over our rivals was crucial but sustaining that competitive advantage was even of more essence. Our team looked into various ways of sustaining our competitive advantage; firstly improving our product design was of fundamental importance to any success that we would have. Therefore, we focused on producing an unbeatable ...Download file to see next pagesRead More
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