Discuss how to use the low cost strategy, response strategy and differentiation strategies to give a competitive advantage?
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Discuss how to use the low cost strategy, response strategy and differentiation strategies to give a competitive advantage?
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- Why is performance evaluation critical in strategic planning?What is the significance of key success factors and core competencies?Name one popular business in the restaurant of the food industry and then identify how the business used an effective cost leadership strategy to compete in their industry. And finally, identify one business effectively using a differentiation strategy to compete in their industry. Describe their use of strategy type?
- What are the different dimensions of the competitive strategy? If the competitive strategy is to ‘improve customer experience’, what actions would be involved in achieving strategic fit?Discuss what are potential sources of competitive advantage for a company? Give examplesBriefly evaluate the strengths and potential sources of competitive advantage in your organization using value-chain analysis (Using a real-world example)
- According to different types of strategies, what should these firms use? How the selected strategy can be effective for the organization?Name the 3 usual competitive strategies. Provide real life examples of companies using each strategy and explain how they successfully implement that strategy.How can we gain a competitive advantage through value chain analysis?
- How does an organization achieve a competitive advantage?Identify one business in the fast-food or restaurant effectively using a differentiation strategy to compete in their industry? Describe their use of this strategy type?A competitive strategy identifies how to build and strengthen the business’s long-term competitive position in the marketplace. If your school assigned you to decide the competitive strategy, which of the three strategies will you choose and give your opinion to support your argument?