Strategic Management Name: Tejaswi Sarupudi Professor: Mehdi Noorbaksh Course: Bus Strategy & Mgmt Principles Date:1/19/2017 Chapter 1 questions Question one Competitive advantage is where the profitability of a company is greater than the average profitability of other companies that are in its industry. More so, competitive advantage relates to the business model of a company in the sense that it is the conception of how strategies should work together so that the company can be in a better position of gaining a competitive advantage. Thus, competitive advantage enables the company to create value for its consumers, acquire and maintain consumers, reduce costs and also be able to organize its activities and resources …show more content…
It is clear beyond a reasonable doubt that SWOT analysis can aid a company in making strategic decisions considering the fact that it will help it to find strategies of exploiting the external environment, protecting the strength of the firm and also the company will be in a better position of doing away with weaknesses and be able to deal with threats. There are also those global strategies which will help a company to know how to expand it operations outside the home country and at the end of the day the firm will also be in a better position of gaining a competitive edge (Jones, 2017). Question four The various levels of management include the following; corporate level managers who are responsible for overseeing the development of strategies for the whole company, the also provide a link between those individuals who are concerned with the strategic development of the company and the stakeholders, they also make sure that the business strategies that are conducted by the enterprise are consistent and there is a growth of profitability. There are also functional level mangers that are responsible for certain functions of business, they are also responsible for developing functional strategies so that they can be in a better position of fulfilling the strategic objectives that are set by the corporate and business level managers, they are also responsible for
Every company has a set of strengths, weaknesses, opportunities, and threats. Even Foot Locker with its dismal situation in the United States still has strengths and opportunities. When doing any type of company analysis these categories need to be considered for they can be a clear indicator if this particular organization has a possible future. SWOT analysis involves specifying the objective of the business venture
The SWOT analysis is a tool used for strategic planning. SWOT stands for strengths, weaknesses, opportunity and threats. It is an internal analysis of a firm’s strengths and weaknesses and an external analysis of threats and opportunities. A firm’s strengths and weaknesses in the organization are what will determine if a condition in the external environment is a threat or opportunity. In this paper, I will write a SWOT analysis on Cincinnati Bell Telephone.
A SWOT analysis is a distinguished instrument for examination of a company’s strategic situation and environment. Its objective is to recognize the schemes that will best support a business’ assets and competencies to the desires of the market. It is the basis for assessing the core abilities and restrictions and the prospects and dangers from the external environment. SWOT stands for: strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are deemed internal influences where there is some level of control; while opportunities and threats are deemed external influences where there is essentially no control.
Competitive advantage is that a company has better ability in earning profit and profit growth compared to its competitors for the same group of customers in one industry.
Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to that of competitors at a cheaper cost. Having competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.
In order to achieve competitive advantage, a firm must perform one or more value-creating activity that is more superior compared to other competitors. Superior value is created through lower costs or superior benefits to the buyers.
A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.
SWOT analysis can be used to describe and analyse a company’s internal capabilities in relation to its competitive environment. A strategy behind
According to Nicole Fallon of the Business News Daily, a SWOT analysis is an analytical framework that can help any company face its greatest challenges and find its most promising new markets, by identifying the organization’s strengths, weaknesses, opportunities and threats (2017). It allows for an extensive evaluation of the company’s internal and external resources as well as current and future threats that the company may face. This process can be a great asset in determining and exploring new initiatives, as it helps to identify areas of improvement within the organization while helping with the facilitation and implementation of new business policies. This process is crucial in refreshing the strategies and tactics of any
Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)
exists when the firm is able to deliver the same benefits as competitors but at a
A Competitive Advantage is a peculiarity for an organization between it's competitors . It's achieved either by lowering prices or by greatening the value of the product or by offering luxury service and benefits to cope with high prices .
A SWOT analysis is an evaluation of the business environment and organizational strategic capability to identify key issues that may impact strategy development (Ireland, R., Hoskisson & Hitt, 2008). Strengths and weaknesses define a firm’s internal environment whereas opportunities and threats constitute the external environment.
The first important part of a SWOT analysis is to improve the viability of an organization. SWOT identifies the risk which can arise from future threats coupled with the organization weakness. For example, a pharma company ABC has invested heavily in R& D of existing product where a new competitor is also entering with same product. Then company ABC has to decide whether it is strategically important to deal with external threat or improve the internal weakness. Company ABC can continue the R & D progress to improve the quality of existing product or else can diversify the resource to offer the product at less cost i.e. improving its efficiency. So, SWOT plays an important role in such situation and proves to be a beneficial tool to take appropriate decision of improving the weakness
SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.