Competitive Advantage: Sustainable or Temporary in Today’s Dynamic Environment? Reginald M. Beal School of Business and Industry Florida A&M University Tallahassee‚ FL 32307 Tel: (850) 561-2339 Fax: (850) 599-3533 E-mail: rbeal@nettally.com Competitive Advantage: Sustainable or Temporary in Today’s Dynamic Environment? Spirited debate in the field of strategic management wages as to whether competitive advantage is sustainable or merely temporary in today’s highly dynamic environments. The objectivity
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Brand Has Great Value A brand is the most valuable asset a company can own. It can also be the most confounding because‚ while products have a tangible‚ physical reality‚ brands are all about perceptual reality. Brands exist in the minds and hearts of consumers. Brand Valuation Has Not Been Scientific Brand management in the 20th century is replete with many success stories. Brand analysis‚ however‚ cannot make the same claim. Its tendency to focus on lagging indicators often means that corporations
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Great Repeatable Business Model (Zook C & Allen J‚ 2011) Summary Vivid & clear differentiation — Successful companies build strategies on a few vivid and hardy forms of differentiation that act as a system to reinforce each other (e.g. Olam’s key differentiators reinforced each other — Local customer relationships meant they could react quicker to needs and weren’t adversely effected by problems in the supply chain (risk management) as if they were in a longer supply chain (SC = Farmers —> Olam
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differences between products. Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products. In marketing‚ product differentiation (also known simply as "differentiation") is the process of distinguishing a product or offering from others‚ to make it more attractive to a particular target market. This involves differentiating it from competitors’ products as well as a firm’s own product offerings. any differentiation must be valued by buyers
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The five Competitive Strategies; Low Cost Provider Broad Differentiation Focused Low Cost Focused Differentiation Best Cost Provider All of these 5 competitive strategies are used to get ahead and create an advantage over all a company ’s rivals Low cost is when a company provides the overall lower cost than other rivals in the industry. There products are targeted to a large number of different clients. It is not focused. It could be targeted to girls‚ boys‚ women‚ men‚ old‚ young‚
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Technological factors can lower barriers to entry‚ reduce minimum efficient production levels‚ and influence outsourcing decisions. Some technological factors include: * R&D activity * automation * technology incentives * rate of technological change Environmental factors: environmental factors include the weather and climate change. Changes in temperature can impact on many industries including farming‚ tourism and insurance. With major climate changes occurring due to global
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1.1 explain the functions of assessment in learning and development During the initial assessment‚ the assessor must introduce themselves to the learner and ensure that they understand what the course is. The assessor must explain all the units to the learner ad support them in choosing the most suitable units. The assessor and the candidate must then decide on an assessment plan. This will include setting dates and times to meet with the learner‚ as well as agreeing on the best assessment methods
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Food safety Food safety is linked to the presence of food-borne hazards in food at the point of consumption. Since food safety hazards can occur at any stage in the food chain it is essential that adequate control be in place. Therefore‚ a combined effort of all parties through the food chain is required. [edit]ISO 22000 standard The ISO 22000 international standard specifies the requirements for a food safety management system that involves the following elements: interactive communication
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and work products is valid fair and reliable? 13. Explain how you judge evidence and make assessment decisions making reference to criteria and assessment requirements? 14. Explain the procedures for and importance of quality assurance and standardisation? 15. Explain the appeals and complaints procedure? 1. How do you judge whether evidence is sufficient‚ authentic and current? The Golden rules of gathering evidence for assessment. Valid - does the evidence relate to a unit
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company is essentially the difference between its revenues and costs. Therefore high profitability can be achieved through achieving the lowest costs or the highest prices vis-à-vis the competition. Porter used the terms ‘cost leadership’ and ‘differentiation’‚ wherein the latter is the way in which companies can earn a price premium. Main aspects of Porter’s Generic Strategies Analysis Companies can achieve competitive advantages essentially by differentiating their products and services from those
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