Is your company a collaboration of older firms

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Reference no: EM131280309

Four Approaches to Competitive Advantage

By the end of this activity you will be able to:

1. Identify layers of advantage in your company

2. Identify loose bricks in the walls of your competitor's

3. Determine when and how to change the terms of competitive engagement

4. Determine when collaboration is prudent

Reading-II-15 discusses four approaches to competitive innovation that will help to achieve corporate strategic intent. These include building layers of advantage, searching for loose bricks, changing the terms of engagement, and competing through collaboration. Building layers of advantage addresses the benefits of a wide portfolio of resources such that a company faces less risk in competitive battles. Finding loose bricks in the competitor''s wall of defense is necessary to break in to markets and challenge competitors. Changing the terms of engagement involves changing the terms of competitive engagement in any advantageous way while still manufacturing and selling products and services. Collaboration of smaller companies in order to combine resources allows smaller companies to be competitive in oligopoly type markets.

Guiding Questions to Consider Prior to the Discussion

1. When was your company established, and what resources have they integrated during their history?

2. How has your company staked out under defended territory of their competitors?

3. How has your company changed the terms of competitive engagement with their competitors?

4. How has your company collaborated with other companies when bidding on contracts?

5. Is your company a collaboration of older firms?

Read R-II-15, "Strategic Intent".

For this discussion, document how your company has applied the four approaches to competitive advantage, addressing the questions posed under "Guiding Questions".

Post your response (250-300 word minimum) to the Discussion Board.

Verified Expert

Competition is generally rivalry between two economic groups for resources, products and other services within a specific territory. For a business to survive in the market, competition must be real. Business should employee the right people, reduce cost and differentiate the products. For a business to survive in the business, the owner must keep their team motivated, comply with the business law and look at other factors. Other factors include; digitization, technology and even globalization.

Reference no: EM131280309

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