• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Competitive advantage - Definition and Examples of Wal-Mart and Apple

Extracts from this document...


´╗┐Course: MGT401 Name: Shu (Luke) Tang Professor: Luo Yadong Topic: Final essay 1. What is competitive advantage, and what is ?core competence? For a company seeking competitive advantages, what are the generic competitive strategy choices it can use? What are the four building blocks through which it can establish its competitive advantages? 1. Based on power point definition, competitive advantage is when firm implements a strategy that creates superior value for customers and competitors are unable to duplicate it or find too costly to imitate it. 2. Core competencies are ?crown jewels of a company?, the activities the firm performs especially well compared to rivals and through which the firm adds unique value to its goods or services over a long period of time. It can also be called as Strategic Assets, Strategic Capabilities, and Critical Capabilities. 3. For a company seeking competitive advantages, the elements of Low cost, differentiation, and focus are the generic competitive strategy choices it can use. 4. Specifically, firm is using four building blocks like Quality, Efficiency, innovation, and customer responsiveness to establish its competitive advantages. 1. Superior quality includes quality design, reliability, durability, and image. When people think of a product or services, they think in these terms. For example, when people are on the market for a cell phone, many of them would pick an iphone (or Blackberry) ...read more.


It involves the integration of strategies, employees of all levels, and corporate management with creativity, innovation, and a variety of tools, including Apple's main driver, technology innovation to generate more revenue and reduce their cost. The combination of these core competencies enables companies such as Apple or Wal-Mart to get ahead of competition within their industry, as well as, successfully progress into other industries if that is a goal. Leading differentiation are those who "continuously generate new competitive advantages that destroy, make obsolete, or neutralize the industry leader's advantages, leaving the industry in disequilibrium and disarray". 1. What is innovation? What does it comprise? What can you recommend concerning how to effectively execute innovation to generate better returns for the company? 1. Based on power point definition, Innovation meaning the use of new knowledge to transform organizational processes or create commercially viable products and services. 1. In detail, we have divided innovation into three levels, such as invention level, innovation level, and imitation level. 1. From invention level, we know that Invention is the act of creating or developing a new product or process. It can Brings something new into being. And the important fact is that Technical criteria determine the success of an invention. 2. Another level is Innovation. This level of innovation is a little bit different from what we have mentioned earlier about the general definition of innovation. ...read more.


They believe Innovation is about process. Whatever the result is, you as an innovator have to give it a try. In this case, there is no losing or win. Joe Violette, who reminded us that innovation is most often carried out in teams, suggested that leadership's role is also "to provide a work environment of openness built on trust where every member of the team feels free to express their views/opinions without fear of ridicule or reprisal." As long as innovation is a risk taking process, there is no a one hundred percent correct result. During the video, we know that LG. believes innovative technologies takes time. It requires you to listen to customer. Learning from failure is also a lesson that all companies have to take. Lastly is to sharp things up to generate revenue at low cost. For example, LG believes in innovative technologies because they have a passion and commitment to create new and convenient experiences for individual and their families. Its electronic department like fridge center states that whether it's time or energy savings, beautiful options for your kitchen or the latest technologies, LG's home appliances are designed to enhance your overall experience by creating great everyday moments. Therefore, the tone of top should also not only gradually deliver its vision to employees, but also need to be patient about innovation process. It is important for us to fully understand customer?s needs to increase the probability of a valuable innovation. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Case Studies and Analysis section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Case Studies and Analysis essays

  1. Marked by a teacher

    Business Culture & Strategy Analysis Of JD Wetherspoon

    4 star(s)

    * Conduct regular staff surveys. JD place great importance on listening to and acting on. Feedback from members of staff on all aspects of the business. * Hold focus group staff survey. Ideas and suggestions are discussed each week in company meetings and staffs are rewarded for their suggestions.

  2. Unit 9: Marketing Strategy

    people answered no to this question, this is probably due to some being student/pensioners, these groups of people are unlikely to have dependants. Now I know how many of the prospective customers have children I will be able to tailor the right amount of products towards children such as gingerbread men, fairy cakes and train shaped biscuits.

  1. Company culture - secrecy and the possible drawbacks for customers. Examples from Toyota and ...

    If a person wants to buy stock in an organization or simply purchase a product offered by a company practicing secretive methods, the individual will not be made aware of critical information. Not only can this be dangerous to an individual's safety, but it can also deter others from working with the company in the future.

  2. Investigating Internet Marketing

    Clear product information The majority of online retailers offer a detailed product/service description which sometimes customers have not got access if they are buying at physical stores; also sales assistants could not have all the knowledge about the product as it is displayed online.

  1. NHS change management

    coming to the terms and accepting the change. Organization has to be more careful in executing the contract and keep the trust alive between them. Failure to do so may trigger the resistance again. Suggestion: As the various stages explained, it seems that people at NHS experienced change in these ways, initially as disturbance, perhaps even as a


    ?ll, ?fter the event ?nd it does not re?lly me?sure satisfaction only dissatisfaction. Some import?nt f?ctors th?t help us underst?nd ?nd determine how s?tisfied or diss?tisfied consumers ?re include: the disconfirm?tion theory, ?ttribution theory, ?nd equity theory. The disconfirm?tion theory suggests th?t satisfaction is determined by the intensity ?nd direction of the g?p between expect?tion ?nd perceived perform?nce.

  1. The international business environment of Apple Inc

    Because the business sells on such a large scale results to the business receiving investments. The investment can be physical investment such as assets being in another country. The definition of this however can be extended to include lasting interests in enterprises that operate outside of the economy of the investor.

  2. In this assignment I'll be explaining the competitive pressures on two businesses to develop ...

    This shows that they are always one step ahead of the market. People ASDA faces the pressure of delivering excellent customers service. As ASDA has a lot of products similar to Tesco both companies will be competing for customers. This can be done through here customer service.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work