(PDF) Competition and Corporate Performance

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RESEARCH PRACTICES:PART 1
Table Of ContentsINTRODUCTION...........................................................................................................................3Theme 1: General Concept Of Corporate Performance And Competition.................................3Theme 2: Positive And Negative Affect Of Competition On Corporate Performance...............4Theme 3: Healthy Competition That Influences The Performance Of Corporations.................5Theme 4: Increasing Competition Provides Competitive Advantage To Corporation'sPerformance................................................................................................................................6Theme 5: Competition Of Substitute Products And New Entrants Affects The CorporatePerformance................................................................................................................................7Theme 6: Approaches Used By The Company To Cope Up With The Competition AndImproves The Performance.........................................................................................................7Theme 7 : Challenges Face By Company In Competitive Environment To Enhance ThePerformance................................................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONCompetition is a process where two or more organisation compete with each other whiledealing in same products and services including price, quality, customer base, market share etc.Further, the corporate performance means how well a corporation implements its activitiesincluding their financial and operational performance. However, the report will highlight aboutthe general concept of corporate performance and competition and along with it will frame aboutthe positive and negative aspects' of competition on the performance of the company. Moreover,the project will outline about the healthy competition that influence the companies' performancewhich says that it the organisation engage in negative conflicts that it will decline theirperformance and revenue at the same time (Utterback, Pistorius and Yilmaz,2018).On the flip side, the assignment will frame that increasing competition will providecompetitive advantage to the performance of corporation. Furthermore, the report will commentthat competition arises from substitute products and threat of new entrants will affect theperformance of the companies and along with that it will empathy map which will be used by thecompanies to gain competitor advantage. Eventually, the report will comment on the challengesface by the companies while performing in competitive environment.Theme 1: General Concept Of Corporate Performance And CompetitionAccording toLuca and Zervas,2016,Corporate Performance is a complex classificationof how well a corporation executes on its most critical parameters, typically monetary,marketplace and shareholder overall performance. Further, corporate performance is a set ofcorporation intelligence that is concerned with the fitness of the organisation, which hashistorically been measured in phrases of monetary performance. Further, company performanceis a method and technique that provides an incorporated approach to commercial enterprisemaking plans, budgeting and prognostication for finance, income, advertising, operations andHR. However, once it is carried out it links the techniques of company to their programme andexecution, therefore supporting organizations be improve their performance.Moreover, an excellent performance works closer to the improvement of the generalorganizational performance through dealing with the performances of teams and people forensuring the fulfilment of the overall organizational targets and desires. Further, an overallperformance can play a completely vital position in dealing with the overall performance in acompany by means of making sure that the employees apprehend the importance of their
performance to the organizational dreams and objectives and helps the organisation to stand outin the competitive surroundings, further, making sure every employee is aware what's anticipatedfrom them and similarly ascertaining whether the employees possess the desired skills andsupport for gratifying such expectations, moreover, making sure right orienting or linking ofgoals and facilitating powerful conversation at some stage in the enterprise and facilitating acordial and a harmonised relationship between a man or woman employee and the linesupervisor based totally on honesty and authorization.In the opinion of authorBrazeau and Schamp,2019, competition creates possibilities forpeople to enter the marketplace and begin new groups. Simultaneously, it creates jobs andpresents people with a desire of employers and work locations. Moreover, competitionadditionally reduces the necessity for governmental interference through law of business.Theme 2: Positive And Negative Affect Of Competition On Corporate PerformanceAccording toJones, Davis and Thomas,2017, Every organisation experiences two typesof competition namely; positive and negative competition which directly affects theirperformance wherein, positive competition encourage a winning attitude in which employees ofthe company work together toward a common aim and the reinforcement is common. Further, inpositive competition environment, group participants also compete to enhance their personalplacement within the team which improves the performance of overall organisation as everyteam member put their efforts individually that ultimately helps to achieve the goals of company,however within organisation there is mutual appreciation and great interactions that do notthreaten different group participants.On the other hand, According to authorBrazeau and Schamp 2019,the unenviablestructure of competition is commonly referred to as bad, unhealthy, or damaging opposition.Moreover, this type of competition is related to a zero-sum game, wherein the achievement ofone organisation depends completely at the failure of the opposite concerned company.However, this form of competition seeks to improve the performance of one company at thesame time destroys the performance of others, which promotes worry, antagonism, anger, anddecreased esteem and cooperation. However, Being competitive is crucial for the growth andimprovement of companies performance. For example, when companies offer products andservices which is provided by using a number of other agencies that means that they have got
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