Hair Cuttery

5. (TCO 1) You own a hardware store in the small town where you live. A big-box, multiline competitor has just opened. You see the following as your advantages of maintaining your market share

With a company that has been around over a century the strategies it uses change an develop with the society. Since they had begun they have rapidly grown, within the first 30 years of their business

We will start with a generalized business plan of operating a salon with 4 hairstylists, 1 esthetician all renting full time stations in a 700 sqft. Salon. Our desire will be to create a self supporting salon with renters to offset the cost of the startup capital needs as well as the sustaining growth of the

A company needs to create a series of programs to differentiate their product from those from its competitors and to appropriately price the product to achieve the maximum demand, in order to set up the dynamics of its competitive strategy (David, 2007). The competitive strategy of a company is also expected to offer better products or services to its customers, at a reasonable cost. Due to the mass influence of the external environmental on the customers’ preference, it is vital for the company to develop an available competitive strategy to be able to solve a series of problems, and ultimately to improve the company’s performance. Those problems include: how to differentiate its products or service from competitors, how to create market segments to maximize demands, and how to offer a wider range of products or services to better meet the customers’ needs at more acceptable costs (David, 2007).

I. Introduction: After examine the current situation of Mrya. Morningstar’s hair salon is getting engulfed by many other mainstream hair salons. In order to appeal and improve her business at the end of the day, the focus is on finding the right solution for her business. This means starting with a comprehensive understanding of business requirements and then moving on to solid comprehension of the appropriate enterprise architecture. You will need to decide whether to go with a commercial solution or to build one in-house. And you’ll have to determine whether a best-of-breed or a monolithic solution strategy is right for your organization.

UMUC Haircut has identified the need to improve its process for scheduling customers and employees in order to increase profit. To maintain a competitive advantage, UMUC Haircut must upgrade its scheduling system. By doing so, they will be able to track revenue and overhead cost more efficiently. When customer’s call to make an appointment or walk in their information will be recorded in the system. To minimize overhead cost, employees will be scheduled based on customer service needs. The system will also keep track of customer services and re-scheduling of next appointments. UMUC Haircut will be able to offer discounts or specials by tracking customer’s birthdays and anniversaries. The system will also UMUC Haircut to capture demographic

Kelly’s salon system should allow to access to the system components with ease after entering their credentials to enable the salon’s employees to complete all the tasks in the customer appointment scheduling process. Authentication should be a premier concern of Kelly’s salon IT system given that the customer appointment scheduling process requires entry of sensitive customer information such as PII. The system should also require authentication to make changes during the customer appointment scheduling

In 1985 Michael Porter surmised that a market can be subjected into different strategies, thus, three variations of competitive advantage were born. The differentiation strategy is the focus for the purpose of this paper. Furthermore, the differentiation strategy in its most exposed form is a strategy that places prominence toward the brand name and advantage is the prestige that follows. This type of angle draws in a specific high-end consumers which in turn sets its corner of the market apart from its competition. Additionally, in this advantage there is a uniqueness perceived by the consumer, industry wide. The differentiation strategy is distinct in attributes indescribable by price but all the same customers are more than willing to pay a premium for the product or service. Firms that are successful in this advantage are fully equipped with a product development team high in creativity and innovation. Additionally, this strategy is only able to be an advantage if a firm is able to access an unlimited amount of research.

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

Nowadays, many company around the world. So, there are a lot of competitors in a market. To differentiate the company with other competitor is through competitive advantage. Competitive advantage exists when an organization acquires or develops a combination of attributes that allow it to outstrip its rivals. Competitive advantage can occur using new technologies such robotics and information technology.

The following essay is going to attempt to assess the above proposition and try to find if it is possible to add value continually over a period of time. I will first discuss what competitive advantage is and what it means to a firm. Then I will explain the sources of competitive advantage and how the distinctive capabilities of a firm allow it to sustain added value. The discussion is based on a number of viewpoints from different authors who will be clearly indicated and acknowledged. I begin with explaining what competitive advantage is.

I. Introduction 1. There are several basic approaches to competing successfully and gaining a competitive advantage, but they all involve giving buyers what they perceive as superior value compared to the offerings of rival sellers. 2. This chapter describes the five basic competitive strategy option for building competitive advantage and delivering superior value to customers – which of the five to

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

A good business strategy would be that to attain a competitive advantage over other competitors. So what is a competitive advantage? And how company can be able to have a competitive advantage over other competitors? This essay would now discuss what a competitive advantage is and how a company can build a competitive advantage over other competitors in the same industry by using two furnishing stores, Ikea and Courts as examples.

What is a competitive advantage for the company? How can the management use it? Make SWOT analysis for the company.