Question 1: Discuss the three basic types of competitive advantage. Can a company achieve all of them? Why or why not?
ANS: There are three basic types of the competitive advantage:
Cost: Companies can make a distinction competitively by manufacturing high volumes of products at lower prices. Bulk production can be achieved through product or process innovation in order to produce more efficiently or simply through economies of scale such as Samsung smartphones where bulk is produced to reduce cost factor.Differentiation: Companies opt for competitive eminence by picking some dimensions of products important to consumers and investin harnessing those dimensions. These dimensions are other than cost. The examples of differentiation can be trustworthiness, elegance or appearance, power, energy efficiency, health benefits or some other special functionality superior to competitors. This differentiation enables the company to charge apremium price such as Apple products with premium tag.People: CXXXXXXXX also XXXXXXX talent by improvements in XXXX XXXXXXX and take it as aXXXXXXXXXXX advantage XXXXX the XXXXXXXXX are zealous about XXXXX XXXXXXX. XXXX result in XXXXXX XXXXXXXX satisfactions XX employees XXX satisfied with their job and XXXXX XXXX. Moreover, XXXXX is a better scope of innovation XXX quality of XXXXXXXX workflow.
XXXXXXXXX to the XXXXXXX XXXXXXXXXX, a company can XXXXXXX XXX basic XXXXX of XXXXXXXXXXX XXXXXXXXX XX a single point in space: XXX XXXX and differentiation. XXXXXX thinking has added XXXXXX XX XXXXXXX XXXX (Evans, 2014, p. XXX). According XX XX XXXXXXXXXXXXX, XXXXXXXXX XXX three basic types XX competitive advantage in XXXXX’s XXX is not XXXX as reducing the XXXX will XXXXXX XXXXXXXXXXXXXXX factors. XXXXXXXXXXX differentiation in XXXXXXXXXXXXXX enables XXXXXXX price, which XXXXXXXXX XXXX XXXcost of theproduct. Therefore, a XXXXXXX can either XXXX XXXX and XXXXXX or differentiation XXX people XX types XX competitive XXXXXXXXX. XXX XXXXX types of competitive advantages are possible at a time with a XXX compromise XX XXXXXXXX’s satisfaction XXX to XXXX/XXXXXXX proportion.
XXXXXXXXXX:
Evans, X. R. (2014). XXXXXXX & Performance XXXXXXXXXX (XXX ed.). Mason, OH: XXXXX-Western/XXXXXXX Learning.
Question X: Discuss XXX XXXXXXX of process XXXXXXXX formulation. How can XX XXXXXXX this XXXXXXX?
XXX:Strategy XXXXXXXXXXX is XXX process a XXXXXXX XXXXX XX XXXXXXXXX that detail XXX XXXXX of the company XXX XXXXXXXXXXX the company’s priorities. XX’s crucial XXXX the XXXXX steps an XXXXXXXXXXXX takes when XXXXXXXXXXX XXXXX overall strategy XX to specify the XXXXXXX’smission (purpose XX XXX XXXXXXX),vision (XXXXXXXXX XXXXXXXXX regarding XXX XXXXXX state XX company), and XXXvalues(attitudes, XXXXXXXX, XXX behaviors XX XXX employees). XXXXXXXXX XX XXXXXXXXXX XXX tools XXXXXXX XXXXXXXXXX XX evaluate XXXXX processes XXX XXXXXX and how XXXX XXXXXXX customer satisfaction XXX an XXXXXXXXXXXXX XX XXXXXXXXXXX and customers. This allows XXXXXXXXX XXXXXXXXXX XX XX recognized and pursued that may help lead XX one XX XXXX XXXXX of XXXXXXXXXXX advantage.
Question X: Read Chapter 11 XXXX: "The XXXXXX Brick XXXX XX XXXXXXX" (p. 486) and provide commentary as XXXXXXXXX in the XXXXX XXXXXXXXX XXX XXXX XX XXX (7) case scenarios (A - G) (XX. 486-X). Each XXXXXXXX response XXXXXX XX minimum of (3) XXXXXXXXX.
ANS: Dorothy was XXX happy with XXX world, XX she knew it. X tornado came along and transported her to the XXXX XX XX. The XXXXXXX dropped XXXXXXX’s XXXXX on the XXXXXX Witch of XXX XXXX, killing the XXXXX. “XXXX, XXXX, XXX witch is dead!” rang XXXXXXX-out Munchkin XXXX, XXX XXXXXXX only temporarily lost her home XXXXXXX provided by family back in Kansas. XXX is XXX XXXX, however, in the Land of XX. Dorothy’s problem is XX find her way home to XXXXXX. XXX XXXX to XXXXXX was precipitated XX a XXXXXX – XXX tornado that XXXXXXXXXXX her XX an XXXXX XXXX.
While company leadership XXXXXXX to XXXXXX XXXXX XXXXXXXXXXXXX XXX the better, these unrequested XXXXXXXXXXXXX could be perceived as XXX “tornado” to others XXXXXX XXX organization. Changes are XXXXXXXXXX stressful XXXXXXXXXX XXX all involved. XX’s XXXXXXX that XXXXXXXXXX XXXXXXX affected employees early and XXXXX when dealing XXX adjustments so they do not XXXX like they XXX simply XXXXXX XXXXX on the XXXX XXXX Dorothy was. Making XXXX a part of the XXX processes will XXXX XXX XXXXXX XXXX successful.
B. XX the XXXXXX of a XXXXXX XXXXXXX, Dorothy is transported to an unfamiliar XXXX. Immediately, she realized her XXXXX XX XXXXXXXXX XXX the processes XXX people she encounters are different, XXX bear XXXX XXXXXXXXXX to her XXXXXX existence. XXX is XXXX XXX XXXXXXXX XXX XXXXXXXXX about XXX next XXXXX to take. She XXXXXXXX XXX XX in a XXXXXXX XXXXX – XXX XXXX XX XX – XXX XXXX XXXXXX a plan to get XXXX.
XXXXXXX’s stressed state from XXX XXXXXXX XX XXXXXX XX a XXXX of XXXXXXXX. XXXX XXXXXX arrives and XXXXXXXX some detail of the rules of XX, a path XX a possible solution, and new tools XX assist, Dorothy begins her XXXXXXX; XXXXXXXX, XXXXX wary. As she XXXXX XXX XXXXX XXXXXXXXX of XX XXX XXXXXXX XXXXX XXXXXXXXXX, her XXXXXXXXXXX XXXXX. Companies must XXXXXX to effectively train XXXXX XXXXXXXXX to garner XXXXXXXXXX XXX XXXXXXXX. XXXXXX XXXXXXXX them XXX and XXXXXXXXX them to XXXXX on their own results in frustrations XXX an XXXXXXXXXXX workforce.
X. Dorothy is a hero XXX XXXXXXX the Wicked XXXXX of XXX East. Glinda XXX Good XXXXX sends Dorothy on her XXX XX meet XXX Wizard of XX who XXXX XXXX her XXX back to XXXXXX. The Wicked XXXXX of the West tries XX get Dorothy’s newly acquired XXXX XXXXXXXX, XXX XX no XXXXX. Dorothy XXX Toto leave for XX XXX XXX XXXXXX Brick XXXX. Along the XXX, they XXX XXXXXX XX the XXXXXXXXX, XXX XXX Man, XXX the Lion. XXXXXXX XXXXX teamwork, they provide XXXXXX XXXXXXX XX endure the vexing XXXXXXX. They XXXXXXXX XXXX XXXXX and barriers on the way XX Oz, XXXXXXXXX a XXXXX of poppies that puts them XX XXXXX, XXXXXX XXXXXXX, XXX a haunted XXXXXX.
XXX mission of XXX XXXXXXX can XXXX be XXXXXXXX XXXXXXX teamwork. XXXXX XX simply XX way that only one XXXXXXXXXX, department, or XXXXXXXX can garner full XXXXXXX XXX an XXXXXXXXXXXX. XXXXXXXXXX XXXX XXXXX XXXX requires help from others. XX Oz, the Wicked Witch XXX XXXXXXXX by combined XXXXXXX of XXX adventuring party each XXXXX XXXXX XXXXXX strengths and differences to XXXXXXX.
D. XXXXXXX and her XXXXXXXXX XXXXXXX reach XX and meet the Wizard. XXXXXX XXXX XXXXXXXXX granting XXXXX XXXXXX, the XXXXXX gives them an assignment – to XXXXXX XXX Wicked Witch’s XXXXX. XXXX depart XXX the West.
Organizations may have the unfortunate realization XXXX even XXXXXX XXXX have met XXXXX established XXXXX, there may XX XXX or XXXXXXX goals XXXX XXXXX XX XXX. X company’s mission should not XXX in stone and XX functional XX XX XXXXXXXX XX XXXXXX to XXXX the organization XXXXXX XXXXXXX. XXXXXXXXX should XXXXXXXXXXXX re-assess their position XX determine of the established strategy is XXXXX XXX XXXX.
E. XXXXXXX XXXX the task of XXXXXXXXX XXX XXXXX, Dorothy XXX XXXXXXX experience XXXXXXX encounters XXXX near disaster, XXXXXXXXX Dorothy’s XXXXXXXXXXXXX in the XXXXX’s castle XXXXX an hourglass XXXXXX the XXXX to her XXXXX. In a XXXXXXXX XX extinguish XXX Scarecrow’s fire (XXXXXXX XX XXX XXXXXX Witch), XXXXXXX XXXXXX a XXXXXX of water, XXXX XX XXXXX hits XXX XXXXX XXX XXXXX her. Dorothy XX XXXXXXXX XXXX the broom-stick, XXX returns XX Oz.
The XXXXXX XX XX XXX XXXXXXXXXX XXXX Dorothy and her friends XXX XXX capability to get past the obstacles XXXXXXXX by the XXXXXX XXXXX and XXXXXX her broom. XXXXXXXXXXXXX should have the XXXX XXXX confidence XXXX their XXXXXXXXX XXX also handle XXXXXXXXX tasks. XXXXXXXXXX employees XXX XXXXXXXX them XX offer XXX XXXXXXX solutions XX XXXXXXXX XXXX XXXX to a XXXX self-assured and engaged workforce.
X. XXXXXXXXX to Oz, the XXXXX talks XXXX XXX Wizard, XXXXXXXXX XXX XX help XXXXXXX return to Kansas. XXXXX XXXXXXXXXX XXX Wizard, XXXX find out he XXXX not XXXX how. The XXXXXX XXXXX to use a XXX XXX balloon XX return and XXXXXXXXXXXX leaves Dorothy XXX Toto XXXXXX upon takeoff. XXXXXX XXXXXXX XXX XXXXX Dorothy realize she can XXXXXX XX XXXXXX on her own XXXX the XXXX XX the ruby XXXXXXXX.
XXXXX within XXXXXXXXX XXXX XXXXXXXXXX XXXX XXXX have the XXXXX to XXXX XXXXXXX XXXXXX the XXXXXXXXXXXX and XX not need XX XXXXXXXXXX rely XXXX management for XXXXXXXX XXX XXXXXXXXX. Mentors XXX and XXXXXX XX available for assistance, XXXX XXXXXX XXXXXX Dorothy XXXXXXXXXX how XX XXX XXX slippers; XXXXXXX, XXX XXXXXXXX XXXX XXXXXX XXXXXXXXXX be responsible XXX the XXXXXXX. Empowered teams XXXX XX able XX XXXXXXXXX make XXXXXXXXX and have XXXX vested XXXXXXXXX in the outcome.
G. XXXXXXX XXXXXXX XXXX her dream XXX XXXXXXXXXXX a XXX understanding XXX XXXXXXXXXXXX XXX her XXXX XXX XXXXXX in Kansas. “XX Auntie XX, XXXXX’s no XXXXX XXXX home.”
Companies must provide a XXXXX XXXXXXX, vision, and XXXXXX XX XXXXX XXXXXXXXX. Management and XXXXXX XXXXXXXXXX must demonstrate all facets XX provide their workforce the ‘home’ XXXX they are looking for. XXXXXXXXX XXXXX XXXXX or XXXXXXX XXXX in a XXXXX of XXXXXXXXX or ignorance XXXX lead XX XXXX another XXXXX – XXXXXXX over the XXXXXXX.
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