Competitive Strategy and Business Model Innovation

This report analyzes the competitive strategies and business model innovations of ANSEL, a consumer product manufacturing company, and a leading bank in Australia. It discusses the importance of strategic implementation, market analysis, and customer value in achieving business success. The report highlights how ANSEL has maintained its market position through effective ideation and innovation, while also examining the banking sector's adaptation to changing market conditions.

Competitive strategy
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Table of Contents
Week 3-Strategy............................................................................................................................ 2
Week 4-Business Model Innovation..............................................................................................3
References..................................................................................................................................... 5
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Week 3-Strategy
The first selected organization is” ANSEL”. It is basically a consumer product manufacturing
company. This organization has been a standout performer in the market as regards its quality of
consumer service; market penetration etc. It was founded in 1929 and is headquartered in
Melbourne. It is considered to be genuine consumer products supplier in the country but
significantly it continued as the major competitor in the market (Walker dddand Madsen, 2016).
This company mainly manufactures latex gloves, condoms, rubber gloves etc. The reason behind
choosing this company is its excellent strategies to capture the market through proper idea
creation, utilizing those ideas to develop a basic memorandum and its proper implementation.
Due to this, it has been able to generate a revenue of US $1.590 billion by the year 2014 and
because of its proper strategic implementation it has been able to earn a net income of US $ 2.60
billion as on 2014 and it’s still growing.
This company has been able to properly nurture its basic strategies and is able to divert those
within its target. It is not just about developing strategies but also its uniqueness has to be taken
care off. They have enriched their policies and strategies towards right aspect. It may not have a
bright appearance in the market until and unless it had implemented a strong strategy to survive
(Peteraf et al., 2014). The basic pillars of this strategy need to be properly followed in order to be
a successful organization within the market. The company needs to reform a proper ideation of
capturing the market (Jayawardhana and Weerawardena, 2014). It is Primary goals is to attain a
competitive market position. The first and foremost thing that was needed was to identify the
basic values of customers, giving preferences to the customer’s likings in the market etc. Then it
had to develop a suitable idea how it will be possible to reach the targeted goals. Accordingly,
this led to a successful strategy to capture the entire scenario of the market. The main reason
behind its success in the market is its proper business model innovation. The first and foremost
thing is to have a proper knowledge of the market scenario (Menon and Yao, 2014).The market
keeps on changing time to time. and as a result of that, it is definitely needed to generate new
ideas to develop and that is what this company has shown to all other major competitors in the
market. Strategies mainly include taking proper action plans, making a strong diagnosis of it and
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achieve goals established by the guiding policy. The company through properly following these
tactics has been achieving its success rate at a higher rate
Week 4-Business Model Innovation
The BMI model reveals the fact that ideas and values bust be compacted together. Moreover, in
other words, it must be able to cement in itself a proper mixture of good ideas and progressive
values and this is being done by Company ANZ. This is the fact that they are now regarded as
the 4th largest bank by market capitalization. It is the matter of not just one day rather it is the
synchronized efforts of all the factors that are responsible for its growth (Massa Tucci, 2013).
Generation of ideas, implementation of ideas and proper innovation are responsible in a big
model. With the help of research studies, the company initiated certain ideas to develop a target
market.
Figure: Business Model Innovation
The idea was basically to develop it into a leading banking and financial services in the country.
This organization further developed this model into a bigger success by determining the
objectives of reaching the target audience. The objectives need to be properly identified and
accordingly, it had to proceed further. Further, this organization broadens its scope of getting
itself acquainted with the upcoming changes in the organization This organization has
developed itself as one of the major banking and financial services in the country due to it's
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proper innovative and prospering ideas (Serrat, 2017). The perceived values of the customers and
their impact on the market scenario have been effectively evaluated by this company and as a
result of that its success tells the story. The company through properly realigning their resources
and processes has been able to capture a major market share and is been able to generate a target
growth for itself. Another very important aspect of this model is to identify the key resources that
are necessary for success (Casadesus‐Masanell and Zhu, 2013). The company through its
continuous enrichment has been able to find out those areas where it needs to progress and is
been able to take proper decisions where it is needed. There are certain industries which make
firm decisions about their policies without analyzing the situation this often exposes them to risk.
But this is not the case for this company. Through its proper management policies, it has been
able to operate in a broad framework and is leading the way to its transformation. For these
reasons, this organization has been able to offer various services such as retail banking, merchant
banking. Etc .Through its diversification of activities, it has now been able to expand its
business along with other countries such as Singapore, Malaysia etc.The key processes to deliver
the services is also the utmost criteria in this model. The companies have developed its way to
excel its resources and are been able to find out the tactics needed for proper customer service
(Martins, 2015). For this reason, they are being able to provide services like retail merchandise,
commercial banking and all these factors ultimately pave to a bigger factor i.e. profit. The
company has been able to capture a large market because of its profit making capacity which is
inevitable to look at.
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References
Casadesus‐Masanell, R. and Zhu, F., 2013. Business model innovation and competitive
imitation: The case of sponsor‐based business models. Strategic management journal, 34(4),
pp.464-482.
Jayawardhana, K. and Weerawardena, J., 2014. Conceptualizing the Role of Market Learning in
Social Innovation-Based Competitive Strategy.
Martins, L.L., Rindova, V.P., and Greenbaum, B.E., 2015. Unlocking the hidden value of
concepts: a cognitive approach to business model innovation. Strategic Entrepreneurship
Journal, 9(1), pp.99-117.
Massa, L. and Tucci, C.L., 2013. Business model innovation. The Oxford handbook of
innovation management, 20, p.18.
Menon, A.R. and Yao, D.A., 2014. Elevating Repositioning Costs: Strategy Dynamics and
Competitive Interactions in Grand Strategy. Harvard Business School.
Peteraf, M., Gamble, J. and Thompson Jr, A., 2014. Essentials of strategic management: The
quest for competitive advantage. McGraw-Hill Education.
Serrat, O., 2017. Business model innovation. In Knowledge Solutions (pp. 499-507). Springer
Singapore.
Walker, G., and Madsen, T.L., 2016. Modern competitive strategy. McGraw-Hill Education.
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