The Importance Of Becoming An Independent Consulting

Those who request these services would be less concerned about the process, caring only about the outcome. The assumption based on this initiative is that “the wisdom of crowds” will come up with optimised ideas for the challenges. Furthermore, clients who are considered as conservative will have a tendency to solve the business problems with internationally well-recognised business consulting companies as they can work collaboratively. They provide more systematic ways of solving problems and can work interactively with the companies as their group of employees will work for the company with well-trained and qualified human labours while it costs more. This may result a high level of client satisfaction rate. Furthermore, there is the likelihood that large sized

The three main competitive strategies are cost leadership, differentiation, and price strategy. Cost leadership focuses on acquiring raw material of the highest quality at the lowest price. In return this company can lower production cost with the goal of being the company with the lowest production cost in the industry. Differentiation strategies allow companies to make their products stand out from the others. Differentiation can be actual or perceived. Actual differentiation occurs when the company creates products that are not available elsewhere. Perceived differentiation takes a lot of marketing and advertisement to convince the consumer that this company’s product is superior. Price strategy includes a variety of strategies that cause a particular product to be marketed at the lowest price possible. Price strategy includes skimming where companies set a high initial price only to turn around and lower it. Bundle pricing occurs when several products are offered for one price. Promotional pricing allows other incentives to buy such as buy one get one half off. Using the pricing strategies causes many consumers to actually purchase more believing that they are receiving a “deal” while the company is still profiting. Competitive strategies are always used by companies and are often used together. Companies that understand how to combine competitive strategies fare much

Thompson, Peteraf, Gamble, and Strickland (2012) found that competitive strategy depend on whether a company’s target market is narrow or broad, and whether a company is seeking competitive advantage through low-cost or product differentiation. These two factors reveal five generic competitive strategies. The five strategies are Overall Low-Cost Provider Strategy, Focused Low-Cost Strategy, Broad Differentiation Strategy, Focused Differentiation Strategy, and Best Cost

Distinguishing one 's firm from the alternatives is a major concern for any business. Strategic analysis provides the starting point in the strategic management process organizations use to evaluate and choose the competitive advantages that distinguish them from other organizations within the market. Dominating businesses should also "choose among alternative grand strategies to guide the firm 's activities, particularly when they are trying to decide about broadening the scope of the firm 's activities beyond its core business (Robinson & Pearce, 2009)."

This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.

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).

This paper discusses the creation of "Just in Time Consulting" and explains the types of services the firm offers to clients. It also explains the roles/responsibilities of each member of the team, and analyzes which University of Phoenix courses helped in the creation of the consulting firm.

Consulting covers an extremely broad range of topics, businesses, clients and fields. However, Bremmer has somewhat of a bias towards writing this article; he is a consultant trying to sell his services to others by making these “new rules” seem more complicated than they truly are.

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.

In this part, this report focuses on Porter’s Generic Strategies to analysis the strategic positioning of the major play in toys and games industry. According to Dess, Lumpkin and Eisner 2010, Porter’s Generic Strategies include three strategies which are Differentiation, Focus and Cost leadership which a company can use for achieve competitive advantage and overcome five force.

There are two schools of thought pertaining to how firms should choose the competitive strategy that best suits them. One is of the opinion that firms should choose one of the generic strategies and commit all resources to making it work. Porter belongs to this category. They believe that the value chain necessary for cost leadership is quite different from that of differentiation strategy and that while differentiation deals with better quality, cost leadership deals with lowering costs wherever possible.(DESS and DAVIES 1984) What porter articulated here is that there is need for strategic clarity.

To attain competitive gain, organisations can differentiate their merchandise and services from their competitors they can also choose to lower their costs in order to compete with other contenders. By aiming their produces to a wide-ranging target, they are essentially covering most of the marketplace or if they choose, they can decide to concentrate on a narrower target within the market (Lynch 2003). While doing so may reduce their market range it essentially reduces their other competitors. Porter stated that there are three generic strategies that an organisation can follow to achieve competitive gain over other organisations. These are:

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).

According to Porter, strategies allow organizations to gain competitive advantage from three different bases: cost leadership, differentiation and focus. Porter calls these bases as generic strategies.

Porter’s generic strategies describe how a company attains competitive advantage across its chosen market scope. There are three generic strategies-cost leadership, differentiation and