What are the building blocks of competitive advantage? Why is obtaining a competitive advantage important to managers?
- 1 decade agoFavorite Answer
You want to gain competitive advantage in order to win profitable purchase orders and continuously beat your competition in the battle for share of market. That is, you are going develop a business strategy that describes how your business will compete in order to achieve a superior sustainable financial performance.
To gain competitive advantage you can have several approaches:
1 Becoming the low-cost provider of products and services (Wal-Mart typical example)
2- Developing differentiated, innovative products and services (Apple)
3- Targeting a narrow niche: geography, industry, product/service (niche in high-end products/services Masseratti, Ferrari, NetJets for example)
4- Employing differentiated methods and approaches (UPS, IKEA, Toyota)
5- Exploiting all nine factors of Gordon’s CUSTOMER model
You can read more of this in chapter 12 of “Entrepreneurship 101: How to Turn Your Idea into a Money Machine” author Michael E. Gordon, PhD
Hope this answer helps
EstanislaoSource(s): Entrepreneurship 101: How to Turn Your Idea into a Money Machine” author Michael E. Gordon, PhD
- barrickLv 44 years ago
truthfully -- and no. faith easily provides a "aggressive benefit" to teams, whether that's a prolonged relatives, society or subculture. faith became effortless in early societies as a manner for people to describe issues that they could no longer comprehend otherwise. to apply your occasion, why might one berry be poisonous mutually as different berries are nutritious? somebody with out expertise of botany and chemistry might have not got any concept. So, enter an invisible, larger ability which in a roundabout way dictated each and everything on the subject of the international. This mythology easily took carry and replaced into surpassed orally, as you're saying. communities that caught at the same time and shared this custom created a gadget of norms and mores which translated right into a greater orderly society than those communities who did no longer. It is going with out saying that unity and enterprise is an advantage to a society. apart from, as faith developed it became a source of notion. If a people believe they're struggling with, working, suffering for a a techniques better purpose (including a God, "freedom", etc.) then the each and every physique is a lot greater prepared to do the stressful paintings needed to attain the objectives of the society. it quite is obvious in the time of historic previous and continues to be occurring in today's international. hence, utilising faith as a "aggressive benefit" has no longer outgrown its usefulness. faith continues to be a substantial motivator, in conflict, obedience to a state, convincing the hundreds to no longer question misery, uniting a u . s . a . against yet another etc. the US has no significant faith, it rather is a lot you notice different precis suggestions hailed as a rallying cry, like "combat for our freedom," "patriotism," and others. as long as there are people in the time of this international who dislike people, faith would be around.