Competitive Advantage Essay

The company attains the strategic advantage by having that information that other in the industry desires to know as the rivals in the industry always search for the competitive data and this help in getting the competitive advantage by the company. The competitors of the Omantel desire to know the strategies that help the company to provide low rates to the customers and attain the

as Peter Drucker prompt in an exceedingly recent Harvard Business review article, “Every firm—not simply businesses—needs one core competence: innovation.” Innovation offers the companies a competitive advantage. Presently and within the future, more than any time in history, the key to competitive advantage is innovation. However innovation will facilitate businesses meet all of their strategic challenges, not simply competition; to illustrate, in confronting accelerating rates of change, globalization

trend will continue. Nordstrom has been able to create a distinct competitive advantage for many reasons that make their offerings and retail positioning strategy unique. By instituting an outlet business that reaches a different target market, offering a quality product supported by exceptional customer service, and dedicating itself to an omnichannel channel, Nordstrom has differentiated its offering and earned a competitive advantage that has allowed it to become the dominant retailer. First, Nordstrom’s

are able to leverage knowledge for competitive advantage (Okorafor, 2014). More often than not, however, the power lies with the individual who possess the knowledge; often, that individual develops a sense of knowledge ownership which influences knowledge behaviors (Husted & Michailova, 2002; Peng, 2013; Wang & Noe, 2010). According to Nonaka (1991, p 96), “[i]n an economy where the only certainty is uncertainty, the one source of lasting competitive advantage is knowledge.” The inevitable retirement

especially innovativeness, information, resources, outputs and flexibility, because their performance, which is based upon their management and processes, directly influences the competitive advantage of a company. Therefore, improving the performance of a supply chain is very critical for achieving competitive advantage. Improving the performance of a supply chain is not a one-time process rather, it’s a continuous process for the company and its supply chain network to sustain and gain further competitiveness

C. Competitive Advantage Related Theory 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

cоmpetitiveness depends on the capacity of its industry to innоvate and upgrade. Cоmpanies gain advantage against the world’s best cоmpetitors because of pressure and chаllenge. Thеy benefit from having strong domestic rivals, аggressive hоme-based suppliers, and demаnding local custоmers (Harvard Business Review, The Competitive Advantage Of Nations, Michael E. Porter). The Nаtional Competitive Advantage is basically an evaluation of hоw competitively a nation participates in international markets

1. * What, historically, have been Apple's competitive advantages? Apple’s mission is to make products that were cutting edge, designed beautifully, and easy to use. They have been able to keep this competitive advantage not only by relying on its own proprietary designs but also by refusing to license their hardware to third parties. They tend to be a leader in new technologies such as the first desktop solution, mp3 player, and touch screen cell phone. Jobs believed deeply in focus while the

Initially, the efficient supply chain of the business is a good method to enhance its competitive position. Supply chain refers to those associated operations and activities for converting inputs to outputs. Such activities contain issues of operations, marketing and supply (Han, 2008). High level of combination within the chain is the best method to get competitive benefit. Zara Company achieved matchless success in having powerful supply chain. This company owns numerous branches all around the

What is Competitive Advantage? Competitive advantage is the act of a firm being in a more favorable position in the market that its rivals when it comes to operation. McGrath(2013) stated that competitive advantage can be displayed regarding having affordable products or services and having quality product or service. Quality of service or quality is one way to which a firm can beat rivals in endearing itself into customers. Customers prefer consuming the best quality in the market, and the firm