Identify the contextual influence that you believe will pose the greatest challenge to companies’ competitiveness and identify the contextual influence that will pose the least challenge to companies’ competitiveness. Explain your answer.
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Identify the contextual influence that you believe will pose the greatest challenge to companies’ competitiveness and identify the contextual influence that will pose the least challenge to companies’ competitiveness. Explain your answer.
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- Identity the contextual influence that you believe will pose the greatest challenge to companies' competitiveness and identify the contextual influence that will pose the least challenge to companies' competitiveness.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?How can the following help an organization maintain a strong competitive edge? Strong marketing team Regular professional development Good working relationships with stakeholders
- Identify the organization’s competitive advantage. Is the competitive advantage durable and valuable? Defend or critique the organization’s competitive advantage based upon your earlier analyses.The macroenvironment consists of the factors close to the company that affect its ability to serve its customers, such as suppliers, customer markets, competitors, and publics Select one: True FalseA. What does the following scenario suggest to a company CEO? Sales in units are increasing and average price is increasing. Net operating income is increasing. a. The current business environment (external environmental factors) is improving b. Margin of safety is declining c. The integration between marketing and production is poor d. Variable production expenses have declined B. What does the following scenario suggest to a company CEO? Sales in units are decreasing and average price is increasing. Net operating income is increasing. a. The higher average price is hurting the overall company b. Product quality has declined c. The higher average price is making up for the lower volume d. Variable production expenses have increased
- Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition” (Porter, 1985). Evaluate the five basic competitive strategies pursued by organizations in order to create sustainable competitive advantageA profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.True or False? The competitive intelligence system of a firm supplies key information to relevant decision makers about the firm's competitors.
- Respond to the following statement: “Our organization has key performance indicators that measure financial and nonfinancial performance, including customer satisfaction, product and service quality, cost, revenues, and employee satisfaction. We therefore have a balanced scorecard approach.”Implementation of a company’s strategic plan often begins by determining management’s basic expectations about future economic, competitive, and technological conditions, and their effects on anticipated goals, both long-term and short-term. Many firms at this stage conduct a situational analysis that involves examining their strengths and weaknesses and the external opportunities available and the threats that they might face from competitors. After performing the situational analysis, the organization identifies potential strategies that could enable achievement of its goals. Part of this process involves business managers creating budgets to plan for future operations, create benchmarks to measure progress, and maintain necessary accounting controls. The majority of literature that has used examples to describe a master budget have been limited to manufacturing companies. These companies tend to have comprehensive operating budgets and therefore serve as a good starting point in…Competitive intelligence may be defined as the process of systematically scanning the business environment and identifying and assessing potential opportunities and threats (Louw & Venter, 2019). Naked wants to improve their market share in South Africa and is considering acquiring Granadilla Insurance (a competitor) to do so. Granadilla Insurance focuses mainly on the gadget and small business insurance compared to Naked, which focuses on car and household insurance. As a strategic consultant for Naked, you are tasked to advise Naked. Your answer should contain the following points: •Provide a brief introduction to strategic decision making and macro -environmentalanalysis. •Complete a CI cycle on Naked’s consideration to add small business insurance to theirpolicy options. •In conjunction with the CI cycle, conduct a macro-environmental analysis (PESTEL analysis)for Naked on the South African market. •Compare the outcomes of a SWOT analysis for both Naked’s current…