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Essay Available:
Pages:
2 pages/≈550 words
Sources:
2 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 9.72
Topic:

Strategic Plans to Improve PetMeds’ Competitive Advantage

Essay Instructions:

Individually, you will complete an “Extended” Executive Summary of 500-750 words. Extended in that you must offer detailed comments on each element of the Strategic Case Analysis, while the team’s Executive Summary will be the “highlights” (key points) of each section. The intent here is to allow you enough opportunity to prove your grasp of the tools and concepts as you present, both in writing and in a video (see Part II), your findings and recommendations for the case you and your colleagues spent the last seven weeks developing. While it is necessary for you to spend time explaining the points of differentiation between you and your team members, it is very important that you do explain how you came to the conclusions and recommendations you are submitting.
Complete an “Extended” Executive Summary by providing detailed comments on each element of the Strategic Case Analysis you completed with your CLC group.
Where appropriate among the various elements of the Strategic Case Analysis, address the following points.
These elements align with the rubric used to score your effort.
Recommend strategic plans to improve the company’s competitive advantage.
Explain how leadership skills can be used to encourage innovation to improve the company.
Recommend specific decisions company leadership can make in order to capitalize on untapped business opportunities.
List the industry specific resources you used to inform the development of your strategic case analysis, as well as the sources that inform your suggestions in bullet-points above.

Essay Sample Content Preview:

Extended Executive Summary
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Extended Executive Summary
PetMeds Express Inc. made a name for its business as a pet pharmacy in Florida. The business sells health products, non-prescription and prescription pet pharmaceuticals for horses, dogs, and cats. The business sells a wide range of health items as a specialized store, and customers can buy them online, through catalogs and brochures, or by calling a toll-free line. The PetMeds business strategy is still effective, aiming to remain profitable. The study analyzes strategic plans that PetMeds can implement to improve competitive advantage, leadership skills that may be applied to encourage innovation at PetMeds, and decisions that company leadership can make to capitalize on untapped business opportunities.
Strategic Plans to Improve PetMeds’ Competitive Advantage
Other market participants could not match the pricing if PetMeds could use economies of scale and maintain their services at low prices. As a result of its cost advantage over its rivals, the corporation should pursue an approach to cost leadership that would provide the highest profits.
Additionally, PetMeds should be able to differentiate its products and services from its rivals while offering reduced prices, offering a broad range of services, and maintaining its competitive edge (Barney & Hesterly, 2019). This might be done by offering its appreciated clients high-quality services or innovative products. PetMeds will charge more for the services it offers if differentiation is a success.
In addition, it can be recommended that the business concentrate on a small market area. However, it will unlikely happen until the business successfully develops customer-focused services (Barney & Hesterly, 2019). The business will concentrate on the lowest-cost producer of distinctive items in the small market space.
Leadership Skills to Encourage Innovation at PetMeds
PetMeds' innovation can be achieved through effective leadership and leaders with high-caliber skills. Building an innovative cult...
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