IDENTIFYING COMPETITIVE ADVANTAGE
To survive in organization, we must create competitive advantage,
COMPETITIVE ADVANTAGE
a product or service that an organization's customers place a greater value on than similar offerings from a competitor.
FIRST-MOVER ADVANTAGE
occurs when an organization can significantly impact its market share by being first to market with a competitive advantage. for example instant noodle like Maggi are the first product known at Malaysia.
ENVIRONMENTAL SCANNING
the acquisition and analysis of events and trends in the environment external to and organization.
3 COMMON TOOLS TO ANALYZE AND DEVELOP COMPETITIVE ADVANTAGE
⇢ PORTER'S FIVE MODAL
For the details please open, https://www.mindtools.com/pages/article/newTMC_08.htm
⇢PORTER'S THREE GENERIC STRATEGIES
⇀VALUE CHAIN
process where a firm identifies its primary and support activities that add value to its final product and then analyze these activities to reduce costs or increase differentiation.
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