Competive Strategy Essay 2022
VerifiedAdded on 2022/09/18
|7
|1802
|30
Essay
AI Summary
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running Head: COMETIVE STRTEGY 0
COMPETIVE STRATEGY
System04121
8/21/2019
COMPETIVE STRATEGY
System04121
8/21/2019
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
COMPETIVE STRATEGY 1
INTRODUCTION
This essay is a study of 3 strategies that are generic, Ansoff and resource based view.
These strategies help in building and organization and also help the company or industry to
understand it better. These strategies help the firm to grow in the competitive environment.
Strategies help the company to create a comprehensive plan for strategy. KPIs and goals in
order to lead the organization to another level of performance. These strategies also help in
knowing the position of the company and the gaps among the performance and also the areas
in which the firm can improve. The essay talks about the importance of the above mentioned
3 strategies for the business and also this essay talks about JB HI-FI and how it uses the 3
strategies to be successful in the market. JB HI-FI is a company of Australia which is a
retailer that sells consumer goods. It is located in both New-Zealand and Australia
(Tavitiyaman, Qiu Zhang, & Qu, 2012).
INTRODUCTION
This essay is a study of 3 strategies that are generic, Ansoff and resource based view.
These strategies help in building and organization and also help the company or industry to
understand it better. These strategies help the firm to grow in the competitive environment.
Strategies help the company to create a comprehensive plan for strategy. KPIs and goals in
order to lead the organization to another level of performance. These strategies also help in
knowing the position of the company and the gaps among the performance and also the areas
in which the firm can improve. The essay talks about the importance of the above mentioned
3 strategies for the business and also this essay talks about JB HI-FI and how it uses the 3
strategies to be successful in the market. JB HI-FI is a company of Australia which is a
retailer that sells consumer goods. It is located in both New-Zealand and Australia
(Tavitiyaman, Qiu Zhang, & Qu, 2012).
COMPETIVE STRATEGY 2
Generic strategy is a kind of tool that helps the industry or a company to know its
position and also if the profitability of the company is high or low or above average. The
profitability above average simply means that the firm will have a competitive advantage at
the end. There are mainly two types of competitive advantage in this which are low and
differentiation, under this tool there are set of various different components and those are cost
focus, differentiation and differentiations focus.
Differentiation, this is a tool that is used by the firm when the firm tries to be
different and unique in the industry and also when it is valued high by the customers. if the
company chooses more than one characteristic then the customers of that industry are
considered as more important also under this the company functions in a unique way and it
also tries to reach the position and goals of the company in a unique and different manner.
Cost leadership, under this the company or a firm sets out to become a producer for
low cost in comparison to the whole industry. The cost advantage source is very different and
also very much based on the structure of the company. If a company aims and achieves the
total cost leadership in the industry then it would be able to take over the price and average of
the industry (Tanwar, 2013).
Focus; under this the focus includes the scope of the competition in the industry.
There are two variants of differentiations focus and cost focus. In the focus, the company
tries to get the advantage of cost in the segment of target. The focus differentiation depends
on the differences among the target segment of the focusers and the other segments of the
market. The cost focus also exploits the difference in the behaviour of cost and also the
differentiations focus exploits the needs of the buyers in the target segments.
Example JB HI-FI: it has a strategy unwavering which is a strategy based on
exposure linked to difference from its competitors. It makes many significant investments in
infrastructure in the regional and rural Australia for the profit of regional communities.
Generic strategy is a kind of tool that helps the industry or a company to know its
position and also if the profitability of the company is high or low or above average. The
profitability above average simply means that the firm will have a competitive advantage at
the end. There are mainly two types of competitive advantage in this which are low and
differentiation, under this tool there are set of various different components and those are cost
focus, differentiation and differentiations focus.
Differentiation, this is a tool that is used by the firm when the firm tries to be
different and unique in the industry and also when it is valued high by the customers. if the
company chooses more than one characteristic then the customers of that industry are
considered as more important also under this the company functions in a unique way and it
also tries to reach the position and goals of the company in a unique and different manner.
Cost leadership, under this the company or a firm sets out to become a producer for
low cost in comparison to the whole industry. The cost advantage source is very different and
also very much based on the structure of the company. If a company aims and achieves the
total cost leadership in the industry then it would be able to take over the price and average of
the industry (Tanwar, 2013).
Focus; under this the focus includes the scope of the competition in the industry.
There are two variants of differentiations focus and cost focus. In the focus, the company
tries to get the advantage of cost in the segment of target. The focus differentiation depends
on the differences among the target segment of the focusers and the other segments of the
market. The cost focus also exploits the difference in the behaviour of cost and also the
differentiations focus exploits the needs of the buyers in the target segments.
Example JB HI-FI: it has a strategy unwavering which is a strategy based on
exposure linked to difference from its competitors. It makes many significant investments in
infrastructure in the regional and rural Australia for the profit of regional communities.
COMPETIVE STRATEGY 3
Ansoff Matrix, this is a tool that gives an alternative for the strategy of growth. This
kind of strategy helps in considering different ways which can help the new products to grow
in the current or the existing market. There are mainly four factors and combination in this
matrix that are considered and they are market presentation, product development, market
development and diversification (Baumgartner. & Ebner, 2010).
Market presentation, this is a thing that includes different things that are less in risk
and influences several of the firm’s capabilities and resources. In the market today this is high
in the growth and filled with opportunities in order to increase the share of the market. The
market presentations have some barriers as in case the market reaches the point of saturation
then there will be a need for new saturation that would help in the growth of the firm (Teece,
2010).
Product development, this is a thing that can be used in the case when the strength of
the company is based on particular customers rather than to the products. In cases like these,
the company can develop the new products in order to target the new and existing customers.
Market development, under this comes the additional market segments and the
geographical regions. The development of new markets and the product is a nice and a good
strategy in the cases where the core competencies of the company’s products are tested with a
particular market segment as the firm or the company is expanding in the new market.
Diversification: this is one of the most risky and problematic strategy out of the other
four strategies as this strategy needs both the market and the product development and also it
can be outside the core competencies of the firm (Meur, Bernard, Dorel, Abbiss, Honnorat, &
Hausswirth, 2011) .
Example JB HI-FI: In command to retain itself dissimilar from its opponents, the
company moved the advertising plan in order to put Market Based Administration (MBM)
method in to practice. Market Based Administration is a business strategy, which puts the
wants and needs of a company’s customers at the focus of all business indolence (Hsu, 2011).
Ansoff Matrix, this is a tool that gives an alternative for the strategy of growth. This
kind of strategy helps in considering different ways which can help the new products to grow
in the current or the existing market. There are mainly four factors and combination in this
matrix that are considered and they are market presentation, product development, market
development and diversification (Baumgartner. & Ebner, 2010).
Market presentation, this is a thing that includes different things that are less in risk
and influences several of the firm’s capabilities and resources. In the market today this is high
in the growth and filled with opportunities in order to increase the share of the market. The
market presentations have some barriers as in case the market reaches the point of saturation
then there will be a need for new saturation that would help in the growth of the firm (Teece,
2010).
Product development, this is a thing that can be used in the case when the strength of
the company is based on particular customers rather than to the products. In cases like these,
the company can develop the new products in order to target the new and existing customers.
Market development, under this comes the additional market segments and the
geographical regions. The development of new markets and the product is a nice and a good
strategy in the cases where the core competencies of the company’s products are tested with a
particular market segment as the firm or the company is expanding in the new market.
Diversification: this is one of the most risky and problematic strategy out of the other
four strategies as this strategy needs both the market and the product development and also it
can be outside the core competencies of the firm (Meur, Bernard, Dorel, Abbiss, Honnorat, &
Hausswirth, 2011) .
Example JB HI-FI: In command to retain itself dissimilar from its opponents, the
company moved the advertising plan in order to put Market Based Administration (MBM)
method in to practice. Market Based Administration is a business strategy, which puts the
wants and needs of a company’s customers at the focus of all business indolence (Hsu, 2011).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
COMPETIVE STRATEGY 4
The resource based view is a strategy that is used in order to know or to study the link
among the internal characteristics of the company and the performance of the company. This
strategy is complimentary to the company or any industry as it helps the company to look at
the external factors in order to know the potential of competition for the company or the
organization (Yang, Wu, Liang, & O’Neill, 2011).
Rare, this simply states that the resources are rare and less in comparison to the
demands
Inimitable, there should be three reasons under this in order to keep the resources
imitated, which is a unique factor like the social complexity, casual ambiguity and the
historical conditions (Hudders, De Backer, Fisher, &Vyncke, 2014)
Organization wide supported: this simply states that the resources should be based in
the organised manner. Example JB HI-FI:
Resources Value Rare Imitation Organizatio
n
Competitive
Advantage
Opportunitie
s in the E-
Commerce
Space
Yes No No No Yes
Ability to
Attract
Talent
Yes Yes NO yes YES
Digital
Strategy
Yes, No, Can be YES NO
Project
Execution
Yes, Yes No Yes YES
Global and
Local
Presence
Yes Yes NO Yes YES
The resource based view is a strategy that is used in order to know or to study the link
among the internal characteristics of the company and the performance of the company. This
strategy is complimentary to the company or any industry as it helps the company to look at
the external factors in order to know the potential of competition for the company or the
organization (Yang, Wu, Liang, & O’Neill, 2011).
Rare, this simply states that the resources are rare and less in comparison to the
demands
Inimitable, there should be three reasons under this in order to keep the resources
imitated, which is a unique factor like the social complexity, casual ambiguity and the
historical conditions (Hudders, De Backer, Fisher, &Vyncke, 2014)
Organization wide supported: this simply states that the resources should be based in
the organised manner. Example JB HI-FI:
Resources Value Rare Imitation Organizatio
n
Competitive
Advantage
Opportunitie
s in the E-
Commerce
Space
Yes No No No Yes
Ability to
Attract
Talent
Yes Yes NO yes YES
Digital
Strategy
Yes, No, Can be YES NO
Project
Execution
Yes, Yes No Yes YES
Global and
Local
Presence
Yes Yes NO Yes YES
COMPETIVE STRATEGY 5
CONCLUSION
These essays have discussed the 3 strategies which are generic, Ansoff and resource
based view. The generic strategy is Generic strategy is a kind of tool that helps the industry
or a company to know its position and also if the profitability of the company is high or low
or above average. Under this tool there are set of various different components and those are
cost focus, differentiation and differentiations focus. Moving ahead the Ansoff strategy is a
tool that gives an alternative for the strategy of growth. This kind of strategy helps in
considering different ways which can help the new products to grow in the current or the
existing market. There are mainly four factors and combination in this matrix that are
considered and they are market presentation, product development, market development and
diversification and lastly the resource based strategy The resource based view is a strategy
that is used in order to know or to study the link among the internal characteristics of the
company and the performance of the company. The company JB HI-FI uses the generic
strategy by using the strategy that is different from its competitors. It makes many
substantial investments in infrastructure in the regional and rural Australia for the profit of
regional communities. Under the Ansoff matrix the company uses the put Market
Based Administration (MBM) method in to practice. Market Based Administration is a
business strategy, which puts the wants and needs of a company’s customers at the focus of
all business indolence. And lastly the resource based view strategy is explained through a
table in the essay.
CONCLUSION
These essays have discussed the 3 strategies which are generic, Ansoff and resource
based view. The generic strategy is Generic strategy is a kind of tool that helps the industry
or a company to know its position and also if the profitability of the company is high or low
or above average. Under this tool there are set of various different components and those are
cost focus, differentiation and differentiations focus. Moving ahead the Ansoff strategy is a
tool that gives an alternative for the strategy of growth. This kind of strategy helps in
considering different ways which can help the new products to grow in the current or the
existing market. There are mainly four factors and combination in this matrix that are
considered and they are market presentation, product development, market development and
diversification and lastly the resource based strategy The resource based view is a strategy
that is used in order to know or to study the link among the internal characteristics of the
company and the performance of the company. The company JB HI-FI uses the generic
strategy by using the strategy that is different from its competitors. It makes many
substantial investments in infrastructure in the regional and rural Australia for the profit of
regional communities. Under the Ansoff matrix the company uses the put Market
Based Administration (MBM) method in to practice. Market Based Administration is a
business strategy, which puts the wants and needs of a company’s customers at the focus of
all business indolence. And lastly the resource based view strategy is explained through a
table in the essay.
COMPETIVE STRATEGY 6
REFRENCES
Baumgartner, R.J. &Ebner, D. (2010) Corporate sustainability strategies: sustainability
profiles &maturity levels. Sustainable Development, 18(2), pp.76-89.
Hsu, Y. (2011) Design innovation &marketing strategy in successful product
competition. Journal of Business & Industrial Marketing, 26(4), pp.223-236.
Hudders, L., De Backer, C., Fisher, M. &Vyncke, P. (2014) The rival wears Prada: Luxury
consumption as a female competition strategy. Evolutionary Psychology, 12(3)
Meur, Y.L., Bernard, T., Dorel, S., Abbiss, C.R., Honnorat, G., Brisswalter, J. &Hausswirth,
C. (2011) Relationships between triathlon performance &pacing strategy during the
run in an international competition. International Journal of Sports Physiology
&Performance, 6(2), pp.183-194.
Tanwar, R. (2013) Porter’s generic competitive strategies. Journal of business
&management, 15(1), pp.11-17.
Tavitiyaman, P., Qiu Zhang, H. &Qu, H. (2012) The effect of competitive strategies
&organizational structure on hotel performance. International Journal of
Contemporary Hospitality Management, 24(1), pp.140-159
Teece, D.J. (2010) Business models, business strategy &innovation. Long range
planning, 43(2-3), pp.172-194.
Yang, F., Wu, D.D., Liang, L. &O’Neill, L. (2011) Competition strategy &efficiency
evaluation for decision making units with fixed-sum outputs. European Journal of
Operational Research, 212(3), pp.560-569.
REFRENCES
Baumgartner, R.J. &Ebner, D. (2010) Corporate sustainability strategies: sustainability
profiles &maturity levels. Sustainable Development, 18(2), pp.76-89.
Hsu, Y. (2011) Design innovation &marketing strategy in successful product
competition. Journal of Business & Industrial Marketing, 26(4), pp.223-236.
Hudders, L., De Backer, C., Fisher, M. &Vyncke, P. (2014) The rival wears Prada: Luxury
consumption as a female competition strategy. Evolutionary Psychology, 12(3)
Meur, Y.L., Bernard, T., Dorel, S., Abbiss, C.R., Honnorat, G., Brisswalter, J. &Hausswirth,
C. (2011) Relationships between triathlon performance &pacing strategy during the
run in an international competition. International Journal of Sports Physiology
&Performance, 6(2), pp.183-194.
Tanwar, R. (2013) Porter’s generic competitive strategies. Journal of business
&management, 15(1), pp.11-17.
Tavitiyaman, P., Qiu Zhang, H. &Qu, H. (2012) The effect of competitive strategies
&organizational structure on hotel performance. International Journal of
Contemporary Hospitality Management, 24(1), pp.140-159
Teece, D.J. (2010) Business models, business strategy &innovation. Long range
planning, 43(2-3), pp.172-194.
Yang, F., Wu, D.D., Liang, L. &O’Neill, L. (2011) Competition strategy &efficiency
evaluation for decision making units with fixed-sum outputs. European Journal of
Operational Research, 212(3), pp.560-569.
1 out of 7
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.