Competitive Advantage Of A Company

The company markets its unique products to youth markets which it feels are underrepresented and inadequately reached by its competitors. The company uses innovative and creative, and it effectively set Jones Soda apart from the competition. By allowing consumers to assist in package design, Jones Soda became a brand that concerned itself more with the consumer than with the actual product. This has made consumers feel more relevant, has given them a sense of ownership over the brand, and has encouraged customer loyalty. Due the field is so competitive with several ways to stay competitive in their designated field. Through distribution, brand name, brand image, price, labeling and packaging, advertising, quality of the beverage, and new ideas they have accomplished this. Jones Soda competes for customer appreciation, retail shelf space and for marketing focus by their distributors, who also distribute other beverage brands. Jones Soda currently distributes their products in several retail outlets. These outlets include Barnes and Noble, Panera Bread Company, Cost Plus World Markets, Starbucks and Target Corporation. As well as these mature locations, Jones Soda also distributes to other independent vendors.

Outsourcing emerged on the financial arena during the 1980s and has since then been spreading. Outsourcing production was furthered with the process of globalization which provided a new component leading to the strengthening of resources, skill and labor specializations across the world. The process of outsourcing is using the skill and abilities of a third-party to accommodate society on the foundation of labor. As stated earlier, it was during the 1980s that the process kicked off mainly due to the efforts of corporations when they began to hire labor forces across the world. Even though outsourcing has come out from its developing stages, there are still following effects on the US economy.

Nowadays, businesses must think big. It is not enough to be the best in the city or even the country. The goal should be to go global and take advantage of the opportunities offered by the phenomenon of globalization and be part of the “global market”. This is rather ambitious but some companies have stepped out their country’s borders and have gained global recognition.

With the addition of China into the globalization world, the world supply of labor far exceeds the demand. With several billion new workers in the global supply of labor, companies may shop for labor and relocate to wherever it is the cheapest. Laborers in foreign countries are willing do the same work that a high paid employee would do for less. If American corporations are to compete in the new global economy, they will have to

The term globalization can be defined as a process by which societies, regional economies and cultures have been integrated via a global network of transportation, communication and trade. It has both positive and negative impacts in all the areas that it touches on be it economical, social, technology, cultural, political, environment, health or any other. Globalization started to have an impact on businesses world wide in the eighteenth century since that time marks the merging of modernity and globalization. However, in the modern sence, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders

According to Information System Today, (2014); Globalization will fall under all the categories of technology that move around the world “the greater international movement of commodities”. Globalization has change all aspect on how we do things, from ecumenical changes, cultural changes to technological changes. We are able to manage various things around the world with the comfort of our home (Schneider & Valacich, 2014). A perfect example of globalization would be the following: Leaving in Texas but having your clients or major business deals in Puerto Rico and been able to do it all from her home in Texas without having to do much traveling or no traveling at all. Been able to have conferences and meeting with different people around the

Question 1: In order to answer the question: “What determines the success and failures of firms around the globe?,” the author introduces which two core perspectives?

Globalization is about information. In my opinion, information speed and access is the most important factor in bringing the world together. By far the most influence technology to how fast a person can access information is the internet. The internet allows information to be transferred across the planet in milliseconds. From its start as ARPANET in the 60s, it has been the backbone for connecting a variety of organizations. ("Internet", 2016)

The world we know today wouldn’t have been possible without globalization which is the ever-increasing interaction of people through economic and cultural exchange. We can use the internet to make online transactions to buy goods from overseas that ship across the water on large cargo ships or on airplanes. Vehicular transportation has caused us to be able to travel to any place in very little time. Cellphones have evolved all the way from the telegraph to allow us to make calls to neighboring countries. During the Age of Exploration, many European countries discovered parts of the world they have never existed throughout Asia and the Americas and with them they brought their influence, culture, and the desire to establish business by trade.

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

There has been a great deal of discussion in recent years about globalization, its impact has been both praised and criticized. Globalization is defined as the process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications. I believe the technological advances have had a positive impact on globalization. The use of cellular/mobile phones and the internet have allowed easier access to conduct business anywhere in the world.

People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.

As we move from the information age into what Simson, Downe, and Ahmad (2011) call the knowledge age, knowledge is power. Ideally, the power lies with the organizations that are able to leverage knowledge for competitive advantage (Okorafor, 2014). More often than not, however, the power lies with the individual who possess the knowledge; often, that individual develops a sense of knowledge ownership which influences knowledge behaviors (Husted & Michailova, 2002; Peng, 2013; Wang & Noe, 2010). According to Nonaka (1991, p 96), “[i]n an economy where the only certainty is uncertainty, the one source of lasting competitive advantage is knowledge.” The inevitable retirement of the more than 67 million eligible individuals and subsequent loss of employee knowledge, experience, and skills may signify a considerable loss of competitive advantage for organizations (Appelbaum et al., 2012). In an effort to leverage knowledge for competitive advantage, organizations must focus on recruiting new personnel with desirable knowledge skills or abilities and on implementing knowledge management systems (KMS) which capture, share, and use existing individual knowledge.

As trade increases hyper-competition grows forcing organizations to go global. By a company going global it requires them to rethink strategy and reform (Ananthram and Pearson, 2008). Global organizational structure is the way a company aims to merge local preferences with global strategy. The definition of global strategy is “strategic choices that have the characteristics of being globally uniform or integrated,” (Yip et al., 1997) such as standardization of products, uniform marketing, and competitive moves, but all globally (Townsend et al., 2004; Zou and Cavusgil, 2002; Bayraktar and Ndubisi, 2014). Global strategic strategy is a way to adjust to globalization. Globalization is “the economic and social process by which economies and communities grow inextricably interdependent “(Jhirad et al., 2009). The recent financial crisis (Das, 2010), large amount of poverty, and climate change are all problems that show how the world is globally connected because all countries impact each other (Jhirad et al., 2009).