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HI6006 - Assignment On Competitive Strategy

   

Added on  2020-03-02

6 Pages1447 Words35 Views
Running head: COMPETITIVE STRATEGYCOMPETITIVE STRATEGYName of the Student:Name of the University:Author Note:

COMPETITIVE STRATEGY1Table of ContentsOrganisations 1: Toyota:............................................................................................................2Organisation 2: Samsung...........................................................................................................3References:.................................................................................................................................5

COMPETITIVE STRATEGY2Organisations 1: Toyota:The excellence of the car manufacturer Toyota starts from its lean manufacturingprocess to the other business strategies including competitive strategy or growth strategy havealways been important in the field of business management. Toyota has managed to rank asthe best car manufacturer in terms of overall productivity, highest profit margin as well as thebest application of innovative models in the business (Thompson 2015). The brand is wellaccepted all over the globe due to its reliability, quality and long term durability. Toyota hasmanaged to occupy the market of USA, UK and Asia even in the presence of other toughcompetitors like Ford or GM Motors. Toyota has been found to apply different business strategies in its business activities.For instance, the organisation uses generic strategy and the intensive growth strategy as acontinuous process in the business activity. The generic strategy includes the combination ofthe cost leadership and broad product differentiation strategy (Wesswling et al. 2015). Interms of product differentiation, the car manufacturer has manufactured sedans, SUVs andeven small cars that are easily affordable. Thus, the company has different types of cars tooffer to the different groups of consumers. The company has adopted the cost leadership,thereby reducing the price of the cars in order to increase the demand of the cars in themarket. The method adopted for this strategy is known as ‘just-in-time’ manufacturingmethod that in turn reduces the time and expenditure that is required for the manufacturing ofthe cars (Jayaram et al. 2014). This way, they can offer their cars at a lower price and cangain the advantage by the means of pricing strategy. On the other hand, the differentiationstrategy has to ensure the global competitiveness for the organisation. In order to carry outthis particular business objective, Toyota has adopted the innovation techniques in order toaddress the business strategies (Thompson 2015). This has automatically leaded to thecreation of an attractive market segment for the company.

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