Concept explainers
Explanation of Solution
Competitive Strategy:
The organization replies the structure of the industry by choosing a competitive strategy. It is a long term plan for a company to gain the profit over the other competitive industry. It plays major role when the company is providing similar products like other vendor...
Explanation of Solution
Company that implement each strategies:
Lowest cost across the industry:
The objective of the firm, which follows this strategy, is to generate lowest cost producer across the industry. This strategy will enable the firm to produce large scale production which in turn helps the firm to attain the large economic scale.
Example:
Company which follows the above strategy is given below:
Toyota Company uses the lowest cost across the industry to gain the automotive industry. It successfully differentiates on the basis of design and quality.
Better product/service across the industry:
The objective of the firm, which follows this strategy, is to introduce unique features of the product into the market, which creates a differentiating factor. The firm following this strategy is targeted to achieve market leadership. They assign premium price for the products as they implements high technology features into the products. They manufacture a superior brand and high quality products when compared with the other firms.
Example:
Company that follows the above strategy is given below:
McDonald’s company uses better product/service across the industry. The waiting of customer is not more than one minute...
Explanation of Solution
Falcon Security’s competitive strategy:
The Falcon Security’s competitive strategy contains five forces. They are:
Bargaining power of customers:
It is described as market of output. The customer can buy the products from many suppliers, so the buyer has alternative option.
Threat of substitutions:
The first force is threat of substitution. It affects the customers to found different way of what you do. It uses different technology to achieve the same economic need.
Bargaining power of suppliers:
It is described as market of input. The person who makes the product will sell on the flour...
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Chapter 3 Solutions
Experiencing MIS
- Use Your SWOT to identify strategic alternative and to set priorities. the company is macdonlodarrow_forwardWhat strategic competitive benefits do you see in a company’s use of extranets? //(dont copy and paste any other answer)//arrow_forwardWhy SWOT analysis is important for e-business strategic managers? Select one: a. avoids threats b. attracts customers c. motivate staff d. market productsarrow_forward
- discover and describe your competitive advantages by using Michael Porter's framework Competitive advantage acquired by GM via a strategy.arrow_forwardWhy is Burberry's Digital Strategy So Good?arrow_forwardThese questions are not essay based neither they belong to bussiness operations.PLEASE ANSWER THEM. NOT AN ESSAY BASED. Which of Porter’s four competitive strategies does Apple engage in? Explain.arrow_forward
- Compare and contrast why the top down strategy is better than the bottom up strategy, and explain how this concert fits into a business.arrow_forwardWhy do we analyze any business model? How do we see our business solution? This will provide us practical information for our company.arrow_forwardAnalysts in Toyota companies should summarize their findings by providing a conclusion that summarizes their SWOT analysis of the company's possible strong points, weaknesses, threats, and opportunities (SWOT).arrow_forward
- Principles of Information Systems (MindTap Course...Computer ScienceISBN:9781285867168Author:Ralph Stair, George ReynoldsPublisher:Cengage LearningFundamentals of Information SystemsComputer ScienceISBN:9781305082168Author:Ralph Stair, George ReynoldsPublisher:Cengage Learning