Competitive Strategy and Competitive Advantages

Another example of disadvantages created by technology is the reducing of the amount of sleep humans are getting. About 50 years ago an average adult was getting around eight and a half hours of sleep. Now an average adult is getting about seven hours of sleep. This is due to technology before going to bed. Science has proven that the

To begin with, one disadvantage of technology would be the effect it can have on oneself and others around them. Technology can envelope people in ways that they feel as it has become the one thing they need. In the short story “The Veldt” by Ray Bradbury, the children are spoilt with technology, specifically, a nursery that changes into any place they wished to play in. However, the

Speedup time to market. Because there are more people involved the process of innovation is faster

Improving technology or technological advances are vital sources to create higher living standards in any economy. It can be said that technology has produced more positive results than negatives, and for a country like the United States is expected to experience faster technological progress. However, inevitably new technological advances will inevitably leave some people behind.

In this 21st century you rarely see monopoly situation in the business field. Competition helps to expand the business and create better quality as business always focus on creating a unique product or service for customers.

firms It has been suggested that the disappointing performance of U.S. firms during the 1980s in technology-intensive, global markets was from failure to improve upon products and processes. It has been cited that "the U.S. makes the breakthroughs, while other countries, especially Japan, provide the follow-through." Revolutionary innovation has been contrasted with less dramatic advancements. Incremental improvement can turn products over and get more, newer models out. This may all sound dull, but the achievements can be exhilarating. American firms may have failed to follow up on their breakthroughs with such continuous improvements. Where there were successes, they were built upon a combination of breakthroughs and incremental improvements. It is the subject of yet another discourse as to what constitutes an innovation: a breakthrough or an incremental improvement, or both, and/or everything in between. 4. To take advantage of opportunity It is no surprise that surprises, often disappointing surprises, are the seeds of innovation. Take the oil companies. It is no surprise that some oil companies are becoming oil-andgas companies. Why? Because gas is found more often and in greater abundance than oil

The three generic strategies were identified by Porter (1985), who argues that in order to sustain

Technological change is a fundamental driver of economic development and performance, not only at the level of firms and industries but also economies. Innovation is the organizational process through which new

21. As firms develop complementary technologies to improve the productivity or ease of utilization of the core technology, the technology will:

Fast and Furious will employ a global low-cost leadership strategy and pursue a competitive advantage by having lower costs and selling entry level cameras at low prices relative to rivals. We designed our cameras with basic features and mid level product enhancements, to produce a two star level product. Some of these specifications include 8mm image sensors, 230k pixel lcd display screens, 2704x1520 pix image quality, etc. By producing a lower quality camera, we were able to manufacture and sell our product at a lower cost. This allowed us to gain a competitive advantage and outsell our competitors from the get-go. Many of our competitors adopted this strategy later in the simulation,

To begin with, Chapter two covers three important aspects of the business world which are competitiveness, strategy, and also productivity. These particular aspects are very important for any company to succeed in the world of business. With that being stated, any type of firm such as a manufacturer or a service provider, they must employ these three aspects because they play an important role in growing revenues. For an organization to even be considered successful, they must have a competitive advantage which leads to a strategy that will meet the company’s goals, while having the knowledge-ability to help produce the goods and services in a cost effective manner. Also, it is known that most organizations have a single state called the Mission Statement. The mission statement basically summarizes these three aspects of a company. One question that the Mission Statement should address is, “What level of business are we in?” This mission statement is categorized as the absolute basis for the organizational goals.

3. Identify the type of competitive advantage that the initiative enabled the organisation to achieve. Justify your answer. If you feel that there was more than one type of competitive advantage, identify (and justify) each of these that you think apply in

Competitive advantage allows a company to grow and sustain its sales but still retain more customers than its rivals. (Perreault/ Cannon/McCarthy, 2009, p48) defines competitive advantage as ‘’ A firm that has a marketing mix that the target market sees as better that a competitors mix’’. A company achieves a completive advantage when it provides buyers with superior value compared to rival seller’s offers the same value at a lower cost to the firm, this is according to (Thompson/Peteraf/Gamble / Strickland, 2014, p 7)

These technologies grow and develop within the company over time, and are utilized in successive products. The collective body of the company's technology experience broadens with the emergence of every new product. This broadened experience has turned out to be the base for appraising the "incremental newness" of the technology personified in the subsequent new product.

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).