Strategic Competitive Advantage

Strategic Competitive Advantage

Competitive advantage is term applied when a firm is much benefited or advantageous within their market dominance. It also exists when a firm has a product or service that is perceived on its target markets or customers, better that its competitors (Stewart, 1996). A well founded company should do their best to maintain their discovered advantage for the contemporary issues and existing competitors. A firm should choose an entry and understand the basic nature of the market as well as the competitors, and by that a competitive advantage can be developed properly and strategically. Advantages may come into different scenarios like adopting organizational features, products or technology (Kaounides, 1999).

In relation to the presented to the attached material, every firm gained their advantage from the variety of each force in every situation. The examples suggest that there are various elements within the business industry that might affect the five factors and the creation of the competitive advantage. Companies who answered the challenge and won over it will definitely grab the opportunity to maintain their market dominance. To have the competitive edge, a firm must be able to deliver the same benefits as competitors do in a lower cost. Firms must also deliver benefits that exceeds or greater that those of the competing products. And lastly, a firm should employ resources and capabilities superior to competitors.

Part of this is to create a long-term financial status that will benefit the entire organization, from the stakeholder until it reached the employees (Tucker, Meyer, and Westerman, 1996). It is also an advantage when a firm discovers a product or services that nobody can imitate or put any substitutes. With their products, many firms can create an impact to the consumers and leave them with the satisfaction. In this way, the connection of each and every consumer will establish. The appropriate utilization of the products or collaboration of ideas may also lead the way to gain the competitiveness and secure the advantage not only in the market but also to the rivals.

The flattening of organizations only means that the unnecessary layers of management had been removed and connecting or supervising all of the managers with broad information and therefore, can duly supervise the workers by giving them more than decision-making authority.

References:

Kaounides, L., 1999. Science, Technology, and Global Competitive Advantage: The Strategic Implications of Emerging Technologies for Corporations and Nations, International Studies of Management & Organization, 29(1): 53.

Stewart, D., 1996. Managing market Structure: Achieving Competitive Advantage and Market Dominance, Journal of Managerial Issues, 8(1): 13.

Tucker, M., Meyer, G., and Westerman, J., 1996. Organizational Communication: Development of Internal Strategic Competitive Advantage, The Journal of Business Communication, 33(1): 51.