Competitiveness, Strategy, And Productivity

(P1.1) In formulating a business strategy, it is a crucial factor to determine what the organization’s mission, vision, objectives and core competencies are because it sets an idea on what the organization should do and what purpose do they have in the industry to contribute to their customers. It also helps what markets should they target and what action should they plan to have a competitive advantage.

In order to gain and sustain competitive advantage an organisation must understand the environment in which it operates in order to compete.

The vision, mission statement, and the company values help direct the company’s strategic plan. The vision statement provides the direction the company desires to head. By knowing where the organization wants to be in the future the strategic plan will be developed accordingly to the desired outcome. The mission statement tells the potential customers what the organization is all about and creates a snap shot of the organizational values. The strategic plan is formulated to provide the backbone of the mission statement. Finally the organizational values help keep the core values in

(1) The management team must adopt a strategic management plan. First of all, they have to develop a clear vision and a mission statement to inspire and motivate all the frameworks for the company’s future strategic planning. According to “Mission Statements and Vision Statement” (2011), “by crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future” (p.1). The management team should create a mission statement that describes the company’s purpose and primary objective. For the vision statement, it should include the company’s value and purpose of the company. With a clear vision and mission statement, management and employees would be able to follow the right direction as a team. They also need to define “who their customers are, what products and services it supplies, and how these products and services are provided” (BUSN 460 Week 1 video, slide 3).

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.

Over the period of study, the relative strength in the Peripheral South diminished as the Republican Party became more competitive in the Deep South. Over time, one should see both the national and state indexes increase with the state party index lagging behind the national party index. While this is far from definitive, it supports the findings of some scholars who say that the increase in Republican Party competitiveness started at the national level and went to affect the competitiveness of elections to lower level political offices. A major reason that the state score index lags behind the national index is that the state index includes state legislative offices (and not votes as we have for the other offices included in the MPI) which

Everybody that is in business is there to make a profit (some firms are just tax shelters) and there are only so many products and services available. What sets the competition apart is how they execute their business practices. This is where a mission statement becomes the “blueprint” for doing business. “The mission statement needs to be longer than a phrase or sentence, but not a 2-page document” (David, 2003). This document not only points the managers in the right direction, it also gives the employee a sense of why they are working for this company. In addition, the mission statement not only gives purpose and direction, it should also give motivation and pride not only to the employees of the company but also

An effective mission statement should define an organizations purpose and how they are unique in the product or

In order for corporations to be categorized winning corporations, there must be a set foundation that allows the corporation and the agents inside it, to move as a cohesive unit towards one mission. A clear mission is important because it is the base of the creation of a strategic plan in obtaining the results desired by the corporation. It is much easier to map out the plan towards a clear, concrete, and descriptive mission statement than one that can be misinterpreted by the employees making the calls within the corporation. “But for a company’s mission and values to truly work together as a winning proposition, they have to be mutually reinforcing (Welch 21).” When the goal is not clear, it is hard to set the values―how

A successful competitive strategy focus on creating value to customers, by efficiently use and integrate of these components.

Competitive Advantage: Creating and Sustaining Superior Performance, by Michael E. Porter. Author focused on three principle strategies that a firm can use to neutralize competition areas. low cost differentiation products, superior performance, and competitive technology. The profit potential of any organization can be truly determined by total 5 competition areas. 1 Jockeying for a position, 2 new competitors 3 substitute products/services threats 4 Raw materials power of suppliers 5. Organization customer bargaining power. Value chain is a tool that can be used to analyzing large number of value producing activities to determine customer segment need. Competitive advantage through low cost focus on ten major factors; economics, learning, capacity utilization, linkage within value chain, business interrelationships unit, vertical integration, Business cycles timing purchases, discretionary policies, location, and institutional factors. Two main area an organization achieve cost advantage is controlling cost drivers and two

1- Innovation is important because it allows differentiation from competitors, manufacturing is easier and more flexible, the bar for competition is raised, and there is greater market segmentation.

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

• Competitiveness = a company's ability to maintain and gain market share in its industry

Competitive strategies are also very important for the survival of a firm. Michael Porter proposes three “generic” competitive strategies for outperforming other corporations in a particular industry, those are overall cost leadership, differentiation, and focus. These strategies are generic because they can be pursued by any type or size of business firm, even