Today i'm going to explain about this chapter which is identifying competitive advantages.
Did you understand what means by competitive advantages , first- mover advantages and environmental scanning ? NO ? good , i'm going to tell you right now (excited) :P . hihi
- COMPETITIVE ADVANTAGE is a product or service that organization's customers place a greater value on than similar offerings from a competitor. For example before we have fire fly , MAS follow Air Asia.
- FIRST - MOVER ADVANTAGES occur when organization can significantly impact its market share by being first to market with competitive advantage. For example , Air Asia have 1st advantages strategy and at the same times others company trying to follow.
- ENVIRONMENTAL SCANNING is the acquisition and analysis of events and trends in the environment external to an organization. For example , blog , have competitive advantage , we have to scan online :)
MAS follow Air asia ~~
Okay , lets proceed with 3 common tools to analyze and develop competitive advantages :
- Five forces model
- The three generic strategies
- value chain
Next , lets go through one by one. Firstly is Five forces model. It contain :
- Buyer power
- supplier power
- Threat of substitute products and services
- Treat of new entrants
- Rivalry among existing competitors
Secondly is 3 generic strategies contain :
- Broad cost leadership
- Broad differentiation
- Focused strategy
A business process is standardized set of activities that accomplish a specific task , such as processing customer order. Besides that the value chain approach views an organization as a series of processes , each of which adds value to the product or service for each customer and value chain must enable the organization to provide unique value to its customer.
Okay , it is clear ? If clear , alhamdulillah , if not , please re-read this. haha . That's all . see for the next entry :) ~~~~
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