Business Managers Evaluate And Choose Strategies That They Think Will Make Their Business Successful

969 Words Jul 2nd, 2015 4 Pages
Business managers evaluate and choose strategies that they think will make their business successful. Two most major sources of competitive advantages are business 's cost structure and its ability to differentiate the business from competitors. (Pearce II & Robinson, Jr., 2013) In order for a business or an organization to enjoy the highest level of profitability or the growth in an organization, it is suggested that both competitive advantages should be used.
Cost structure refers to the expenses that a company must be prepared to pay when manufacturing a product or providing a service. (MBA&Company, 2015) Differentiation in business means making the business or brand stand out by offering unique features, benefits, or services . This strategy means identifying the most important criteria used by buyers in the market and then designing product, service or other offerings in a way that best meets those criteria. (Chron Small Business, 2015) In other words, in order for a business to be successful, a company or an organization must consider using one or both competitive advantages for that company to enjoy the highest level of profitability within their industry.
Right Angle is one of the advertising companies located in Lafayette, Louisiana. This company has been in the market for over 25 years , however, for this company to grow and to be still in the market in the future, a strategic plan will be made to help this company with its competitors and to still be the…

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