Companies are encouraged to establish a competitive advantage. But Peter Senge (2006), author of The Fifth Discipline, advised, “The only sustainable competitive advantage is an organization's ability to learn faster than the competition.” Do you agree? Debate Senge’s position versus other established sources of competitive advantage.
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- 2. What is sustainable competitive advantage? Please give a detailed example of a company who has a competitive advantage in a market, and how it helps them compete in that market. 3. In your own words, what is the "growth trap"? Please explain the dangers of the growth trap and an example or examples of company(ies) who have fallen into the growth trap. 4. We have learned the five competitive forces that shape industry competition. Please explain each of these forces and how they impact industry competition. 5. When Apple introduced the iPod, it wrapped good technology in a great business model. Please give three examples of three other companies who have had good technologies/products supported by great business models?“Winning in the marketplace is, in most cases, a result if the actions an organisation takes to seekand secure a sustainable competitive advantage” (Louw & Venter, 2019:249). Analyse thebusiness level strategy employed by Sportify.Understanding of environment by business managers enables them not only to identify and evaluate but also to react to the forces external to their firm. In light of the statement, explain by giving any five points why in the present-day competitive market, it is essential for a business enterprise to remain alert and aware of its environment. Asap
- Kourdi (2009:3) has defined business strategy as a “plan, choice or decision used to guide a company to greater profitability and success.” Required Explain how the following strategies facilitate the achievement of success or profitability: Outsourcing Diversification Market Focus Market developmentSustaining competitive advantage can be challenging. The entry of new competitors, the possibility of imitation, and the changes in the firm’s context can affect the firm’s profitability and, historically, have affected firms that had competitive advantage in very distinctive ways. For instance, Coke and Pepsi have sustained their market dominance for nearly a century. On the other hand, General Motors and Ford were hit hard by competition, in particular of foreign companies entering the market, and never fully recovered. What is different about the product/market situation in these cases that affects the sustainability of their competitive advantage? Which elements of the strategic landscape were responsible for Coke and Pepsi’s success and which elements were instrumental in GM and Ford losing an important share of the market?Discuss this statement: “Business competition encourages improved product quality and increased customer satisfaction.”
- Why do you think competition in business matters? Explain your answer.5 Forces of Industry Competition: (for each force, state whether it is strong, moderate, weak, and then list the supporting facts about the industry that led to your conclusion – bullet points are fine)INSTRUCTION: Think of one societal problem, then give an example of a business idea and target market. Here, I provide one example for reference purposes. Societal Problem: Water Shortage Business Idea: A rainwater harvesting system comprises a collection area, a conveyance system, and storage facilities. The purpose of this installation will help consumers to filter and store rainwater even after the rainy season has gone. It will augment the water supplied by the Baguio Water District, especially during the dry season. Target Market: Household and business owners.
- Explain what a company's highest priority should be when creating a competitive advantage? What is an example of a competitive advantage that created by using information technology? In your opinion, what are the ethical consideration when using technology to create a competitive advantage?Describe the importance of an external assessment in formulating business strategies. What are the most important factors affecting industry attractiveness? Conduct the Porter’s Five-Forces Model to evaluate competitiveness of the electronic companies. Each group may choose one company listed below for the purpose of the discussion. Apple Inc Samsung Electronics Huawei Dell Technologies Hitachi Sony Panasonic Intel LG Electronics Microsoft3. The triple bottom line: the economic, social/cultural, and environmental are important to any business. Discuss how your company has responded or will respond to such forces to keep your company sustainable in the long run. Give examples or reasons.