Believe Is Most Important For A Company's Competitive Advantage: Internal Consistency Or Market Competitiveness

Thus, employers must know how the compensation they offer for critical positions differs with compensation for similar positions at other organizations in the market. Therefore, if an organization is recognized to be a great place to work in terms of factors such as training, resources, technology, work environment, staffing, and scheduling, the organization may be able to pay less than its competitors do within an acceptable range. However, if competitors are viewed more favorably as an employer, on the other hand, the organization will need to use compensation as its strength. Although, any strategy based solely on compensation will not succeed in the long run because a successful strategy combines market-rate compensation and a work environment that is competitively distinguishing and unique (Gering & Conner,

Explain why you chose these competitive strategies and estimate how they might affect sustainability of long-term organizational performance.

The purpose of the paper is to research and understand how the changes of globalization and technology have impacted the Airline industry. This paper will also apply the industrial organization model and the resource-based model to determine how the Airline industry earn above-average returns. This paper will explain how the Airline industry’s success is through its mission and vision statements with Southwest Airlines as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts are to the overall success of the Airline industry.

The competition among rivals is very high due to price and non-price factors. Companies try to attract customers to their products by introducing

As noted earlier, the labor market is very competitive because every employer wants the best staff at his or her disposal. In addition, competition in the market requires every organization to be a way ahead of the competition to ensure sustainability. Consequently, hiring is a preserve for the HRM. Notably, hiring does not entail advertising for job vacancies and waiting for the right candidates to apply and invite them for an interview.

compensation externally competitive within its industry. Employee attraction and retention can be improved by maintaining

Competitive corporate environment it is important that companies pay attention to their employees’ abilities to perform their duties. What is actually important is for companies to continuously study not only how they can perform well for the customers but they also have to address the issue on how they can maintain a highly effective staff. To achieve this they should have strategies in place to measure their employees’ skills, knowledge, and attitude. This will assist in better planning strategies needed to have an effective retention program in place to measure the learning and growth perspective.

In a market of competitiion, it is very critical to for Superior to have an

The paper that I 'm writing will help you to gain information on how Strategic Management and Strategic Competitiveness play hand and hand when dealing with a business. The business that I have chosen to write about is Nike. I have always wanted to know the practices that Nike used to make their business last this long and how have they been so successful. I will explain to you how globalization and technology changes have helped or hurt the company and the major role that it has played. I also plan to construct a plan to see how my corporation could earn above-average returns and increase their gaining potential. I will explain Nike 's vision and mission statement and show how this had allowed them to continue to be one of the most outstanding business in this day and age. In turn, I plan to show how each or stakeholder plays an important role in the success of the corporation.

1. What is competitive advantage, and how does it relate to a company’s business model?

I am going the review the Article "The Five Competitive Forces That Shape Strategy" written by Micheal E. Porter. This article was published in Harvard business Review in year 2008.

In order to be competitive, companies have to satisfy customers’ requirements. They have to provide a fast and dependable service at reasonable price. There are five performance objectives that lead companies to competitiveness. They are:

Labor market or the competiveness for not only recruiting, hiring, but retaining our company employees within a highly competitive market environment.

Today’s markets hold aggressive competition between companies in order to dominate as much share as they can from the market. That is why most companies are seeking for a competitive advantage that will differentiate them from their other competitors and makes consumers buy their services or products over the others.

In the article, “The Five Competitive Forces that Shape Strategy,” Michael Porter argues that the five forces are an important element for managers and investors in the business industry. Porter stated that it is important to “understand the competitive forces, and their underlying causes” which many companies will use to determine if they will gain profit or not (Porter 80). Companies determine their profitability of the industry through the level of the force that they face. For instance, when the forces are favorable, most companies will be profitable. Porter gives a detail description of the five forces and explains the importance of each force. The five forces are the threats of new entrants, the power of the buyers, the power of the suppliers, the threats of substitute for products or services, and the rivalry among existing competitors. Porter believes that “a company strategist who understands the competition extends well beyond existing rivals will detect wider competitive threats and be better equipped to address them” (Porter 93). In other words, when strategists understand the different forces it will benefit them to make better decisions and to be ready to face the different challenges between competitors. In the article, Porter’s main goal is to present the importance of the five forces to the audience.