how does a company maintain competitive advantage?

Q: How can the firms understand their competitors?

A: Business refers to an activity of trade where sale and purchase of either goods or services is done…

Q: What are industry clusters, and what are some of theirpotential advantages?

A: Industry clusters are collections of similar & related firms in a distinct geographic area. This…

Q: Could a firm simultaneously pursue focus, differentiation, and cost leadership? Should firms do…

A: Focus differentiation and cost leadership are genetic strategies which firms are applying in their…

Q: What does ii mean for a firm to have a competitive advantage? What gives a firm a competitive…

A: What does it mean for a firm to have a competitive advantage? Competitive advantage refers to all…

Q: Three (3) reasons each why

A: Ansoff matrix can be implemented when there a company reaches a certain point in its evolution.…

Q: What type of strategy is growing the business from existing customers?

A: Market penetration is the type of strategy that grows the business from existing customers. It is a…

Q: Can a business ever be successful with a combined cost leadership and differentiation strategy?

A: Cost Leadership is where the company tries to establish itself by having a competitive advantage of…

Q: What is your organization`s competitive advantage?

A: Competitive advantage refers to factors that permit an organization to produce goods or services…

Q: Define competitive advantage. How do companies go about finding their competitive advantage?

A:

Q: What is the relationship between an organization's customers and its business level strategy?

A: Business level strategies normally deal with a product or service that the company deals in.…

Q: Compare the evolving company orientations used to adapt to the fast-changing competitive…

A: Organizations may have any from these orientations.   Item orientated:- giving little consideration…

Q: What distinguishes the company's products or services from those of its competitors? Is the firm…

A: Companies are distinguished from their rivals by the quality of the products or services they offer.…

Q: Explain the two elements or basis used to determine the extent of competition from another company…

A: Competition in the market refers to the situation where the companies are the rivals of each other…

Q: How can a company gain competitive advantage through differentiation? Describe an example of a…

A: differentiation strategy is the approach that the business provide the customer a unique, different…

Q: Should a business stick to its competitive strategy all throughout its life cycle?

A: Business strategies define the pathways that comprise action plans and decisions to reach objectives…

Q: Compare and contrast competitor-centred,customer-centred and market-centred companies.Which…

A: Different companies use different approaches to do business. Some might use a customer-centered…

Q: Explain why Management has little control over the competitive environment confronting a firm?

A: Management: It is a procedure of doing things with the help of others. It involved managing,…

Q: Identify and explain three strategic approaches to competitive advantage?

A: Cost leadership: In a cost leadership strategy, firms try to be the lowest-cost producer in the…

Q: Why are some organizations facing difficulties to sustain competitive advantage

A: The value proposition is the solution offered by the company on the customer's problem. For this,…

Q: Who is market challengers?

A: Market challengers may not be the most powerful in an industry, but they can be the most serious…

Q: What is sustainable competitive advantage?

A: In this dynamic marketing economy, a competitive advantage is gained when a firm acquires attributes…

Q: how is competitive advantage different from competitive parity?

A: With the globalization of business, the markets have become more competitive. Firms are looking for…

Q: What are Competitive Dimensions?

A: Competitive dimensions are the features that differentiate a company from its competitors or…

Q: How competitive advantage could be built through business level strategy?

A: The objective of Business Level Strategy To develop a firm-specific business model that will allow a…

Q: Using the right strategy to face the competitive forces may give the company a competitive advantage

A: The statement is:

Q: Which are the three types of competitive advantage?

A: In business, competition is one of the major problems that entrepreneurs face when trying to make a…

Q: In terms of environmental factors and risks, what type of strategies would provide value to the…

A: Environmental factors and risks are best defined by PESTEL - external factors Political factors…

Q: How might competitors respond

A: In product or service business, if there are more number of firms in the market, there would be…

Q: Discuss what are potential sources of competitive advantage for a company? Give examples

A: Competition in business is no exception, and it can make or break your organization. While it's…

Q: Why is it important to evaluate a company's macro-environment? What is the purpose?

A: An organization is an entity whose purpose is to achieve profits, and maximize market shares through…

Q: Discuss in detail any FIVE factors of competitive advantage:

A: A competitive advantage is a unique skill or capability that enables one company to surpass its…

Q: How difficult is it to createsustainable competitive advantages?

A: Firms can procure sustainable competitive advantage by executing value-creating strategies which not…