2.2.2. Competitive advantage applied to CCMA
According to the concept discussed of competitive advantage, the level of competence of the market and characteristics of competitors, the CCMA cannot develop a sustainable competitive advantage based on cost, since it does not have any resource or process that gives it an advantage toward this orientation. While differentiation strategy would be a proper choice to obtain a suitable performance.
CCMA can achieve differentiation based in some of its intangible resources, which are more difficult to imitate (Hollensen, 2015). These sources allow CCMA to develop a unique service and add value to its customers. These sources are:
• Its recognized brand: brand is considered one of the sources that
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Thought CCMA´s sources of competitive advantage are inside the company, it is important that the company do not ignore the market´s trends, which could be a risk if company is concern just about improving and maintaining its internal sources (Hollensen, 2015).
According to these arguments, it is possible to identify that of the four lines of private services that CCMA has, two of them compete by differentiation (Consultancy in corporate governance and its conciliation centre). However the other two lines of services are not plenty differentiated of what competitors offer (training and information). Which in accordance to Jobber and Ellis-Chadwick (2013) requires a deep evaluation, since usually differentiation and cost are opposite choices for a company
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To achieve it the Camera can use its huge knowledge about economic dynamics of the region, as well as its constantly contact with companies through its programs with the local government, to identify specific needs of the customers. I will allow defining accuracy programs. Besides, focus those training programs in topics that can be applied for companies in their daily work can be a factor of differentiation.
To be coherent with its level of customer service, it is critical that suppliers of this service (speakers and coaches) can guarantee the level of excellence that service requires, which can be achieved defining standards of experience and methodology.
Related to one of the issues discussed in point 2, it is important to evaluate how incorporate virtual platforms to develop this
Outstanding Customer Service shall define our business and we shall strive for 100% customer satisfaction.When customer talk we listen therefore we shall strategically align our business based on the customers voice
Building blocks of the competitive advantage is very effectiveness, worth, improvement and customer approachability. These particular building blocks in general have four common techniques in cutting down and getting excellence. Anyone can have the capabilities in implementing these.
Below are some of the competitive advantages (or factors which led to competitive advantages) I identified in the case:
...firms may be able to lower their costs as well. As technology improves, the competition may be able to leapfrog the production capabilities, thus eliminating the competitive advantage. Additionally, several firms following a focus strategy and targeting various narrow markets may be able to achieve an even lower cost within their segments and as a group gain significant market share.
Narrow focus on limited value chain activities, competitor’s pricing war and lack of differentiation parity can erode the competitive advantage associated with cost leadership strategy. Similarly, imitation of differentiating features by competition and lack of perceived value of the differentiating features can erode the competitive advantage associated with differentiation strategy.
When a business thrives in gaining competitive advantage, it often sets eyes on a manifold of strategies that aim to em-better its image and its competitive positioning. It focuses on strategies that may help increase its rate of consumers acquisition, retention and satisfaction; strategies of industry and competitors analysis. Moreover, it sets eyes on those strategic process to build strong investments portfolios ( Liquidity) that can help establish longevity and leadership in the market. Competitive advantage inevitably leads to faster, continual exponential growth, increased sales, market share gains and overall business profitability.
4. Make the product more competitive. ABC pay more attention on product design,research and development and management of quantity cost. Improve the competitiveness through allocating limited resource
Our group approached a set of critical analyses to examine the company’s competitive advantages, to analyse the oppor...
of a firm to attain new forms of competitive advantage (Müller, 2011). It is due to these
When you do find your answers, be sure to include every factor that can contribute to your success – your products and services, your operating method, your unique company qualities and customer service attitude, your values, etc. Whatever you learned from your competitive analysis can definitely help you create powerful marketing campaigns that will help you more effectively sell your products and services to your target
Competitive advantage and its pursuit, for firms, is the cornerstone of Strategic Management. Strategy comes from the Greek word Stratos meaning army and its quest for sustainable competitive advantage is almost militaristic in nature (Fahy, 2000). It is steeped in theories of management and economics. In concepts of developing and using core competencies from collective learnings (Prahlad & Hamel, 1990) to earn economic rents (Amit & Schoemaker, 1993) through the sources deployed to achieve superior financial performance or superior marketplace performance (Bhardawaj, Varadarajan & Fahy, 1993). Its definition lies in strategically utilising firm resources and capabilities, to implement a differential value creating strategy,
The design of an on demand operating environment must match the design of the business itself. In order for more and more flexibility and componentization to be achieved in the business design, the infrastructure must evolve from silos of complex, over-provisioned, proprietary hardware and software – to a standards-based infrastructure where capacity can be optimized across the entire organization.
Michael Porter argued two fundamental means of competitive advantage, cost-leadership and differentiation . Using a strategy clock illustrated the space between cost-leadership and differentiation strategies and this is when we decided to focus on a hybrid strategy, cost-focuser. This involved paying particular attention to the needs of consumers in one section of the market that we believe had viable segment economics. There were a lot of customers and they’re needs were close to those which our product fulfilled and so it was quicker and cheaper to adapt our product to this market segment. We redesigned our product in order to satisfy the customer needs but we forgot about cost of the product in order to provide a product of hig...
Customer Service Management is a management system to direct and control the key elements in the customer service process (e.g. process, people, technology and information) towards the provision of excellent customer service and achieving customer satisfaction (Sirim). Due to the shinning of product life
Differentiation helps to distinguish a company from its competitors by being able to offer superior reliability, functions, features, higher performance, point of sale service, customer care and support, and branding. This competitive advantage allows the company to offer a premium price and leverage its feature for the asking