1 page/≈275 words
Business & Marketing
Rationale for Strategic Choice and Risk Identification analysis (Essay Sample)
Original assignment but I need to write a page about : My Portion is : Explain the differences in competencies and resources required to produce the information required by each type of analysis. This team assignment will consist of a 1250 word team report developed from a team discussion where you build a consensus about the following characteristics when choosing a method to consider internal factors around which to build a competitive advantage. As a team, compare and contrast the types of information you would have to assemble and analyze to develop a valuable, inimitable, rare and sustainable competitive advantage in your firm's situation using the Porter's Generic Strategies or using Traecy and Wiersema's Value Disciplines techniques. Explain the differences in competencies and resources required to produce the information required by each type of analysis. The material on Generic Strategies and Value Disciplines is located in Chapter 7 of the Pearce and Robinson Text. Hello , Can you please tell the writer that I don't need introduction or conclusion , I just need my portion that I have explained to be written . source..
Rationale for Strategic choice and Risk Identification
According to Porter’s Generic Strategies, there are three strategies that a firm can employ in order to achieve its competitive advantage. They include; cost leadership, differentiation and scope (Walters, 2004). In order to attain differentiation, firms need to base their competitive advantage on factors such as customer service, unique style and product quality. Competitive advantage requires that the firm should define the breadth of its company’s target market and concentrate on meeting its specific needs. In order to attain cost leadership, the firm should aspire to minimize costs in production, marketing and in research. However, the firms should ensure excellent quality of its products while lowering the costs (Pearce & Robinson, 2009).
On the other hand, according to Traecy and Wiesema’s value disciplines techniques, for a firm to ensure sustained competitive advantages, it must emb...
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