...Competitive Advantage Paper Strategic Management MGT/498 Competitive Advantage Paper Riordan Manufacturing has several competitive advantages it can establish, which coincide with previously researched organizations. This paper discusses those advantages and competitive strategies meant to improve innovation and the sustainability both domestically and globally. An explanation and estimation of how these strategies will affect sustainability of long-term performance and an explanation of the impact of the global market on Riordan’s business strategy concludes the paper. Competitive Advantage Every organization can establish some type of competitive advantage. Recent research about the competitive advantages of FedEx, Southwest, Toyota, McCain Foods, and Cargill assists in identifying Riordan’s competitive advantage. The first step in creating a competitive advantage is creating a mission statement and developing a strategic plan. Firms that operate with a strategic plan develop a focus and tend to have everyone in the organization aligned. Introducing unique core products or services leads to the establishment of a competitive advantage. In the case of FedEx, the core service is transporting products...
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...Environmental Scan Paper The business environment of an organization reveals much about its competitiveness and the possible influences on the success of its strategies. The focus of this paper will be an environmental scan of the internal and external environments of two real-world firms, their competitive advantages and company strategies for creating value and sustaining competitiveness, measurement guidelines for verifying strategic effectiveness and their evaluation. Internal and External Environments Environmental scanning of the internal organizational environment focuses on company culture, employee-employee, manager-employee, and manager-manager, manager-shareholder interactions, in addition to organizational structure, natural resources’ access and brand awareness, among others (Schneider, 1995, p.70). Environmental scanning of the external organizational environment focuses on the analysis of the industry/immediate environment, national, and macro-environments. Analysis of the industry environment appraises the competitive Environmental Scan Paper The business environment of an organization reveals much about its competitiveness and the possible influences on the success of its strategies. The focus of this paper will be an environmental scan of the internal and external environments of two real-world firms, their competitive advantages and company strategies for creating value and sustaining competitiveness, measurement guidelines for verifying strategic...
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...Abstract. This paper tries to emphasize why in the era of globalization human resources are viewed as a source of competitive advantage? Therefore, the aim of this paper is to reveal that human resources management is essential to ensure the success of any organization which is based on the belief that an organization gains competitive advantage by using its people effectively and efficiently. Regarding this new challenge of HRM, this paper strives to identify whether the HRM can be considered as a source of competitive advantage of the firms or not? Finally the result of this study highlights the value of human resources (HR) and its strategic activities which have an influence on organizations performance and competitive abilities. 1. Introduction The term ‘human resource management’ (HRM) is simply the reflection of three words that does not provide much enlightenment. Where, ‘human’ implies it has something to do with people; ‘management’ places it in the domain of business and organization; but ‘resource’ is a highly ambiguous concept that many people find difficult to relate to [1],[2]. Now the question arises what exactly is the ‘HRM’? According to Storey [3], HRM is a distinctive approach to employment management which seeks to achieve competitive advantage through the strategic development of a highly committed and capable workforce. On the other hand, concerning to HRM, American Management Association (AMA), mentioned it can be described as the organizational function...
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...Saddle River, NJ: Pearson/Prentice Hall. All electronic materials are available on the student website. |Individual |Write a 1,050- to 1,400-word paper in which you complete the following: |Day 7 |150 | |Environmental Scan Paper | | | | | |Research and describe the internal and external environments of 2 to 3 real-world companies | | | | |using an environmental scan. | | | | |Determine what competitive advantages each company has and what strategies each company is | | | | |using. | | | | | | | | | |How does each company create value and sustain competitive advantage through business | | | | |strategy? ...
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...International Affairs Vol.3, pp125-150 (2005) Paper Review Assignment # 1 Introduction: The paper in hand is discussing the resource based view (RBV) while highlighting the entrepreneurial view point as a competitive advantage. It also formulize the conceptual framework of the resource based view by contrasting it to with competitive force approach (CFA), as the CFA explores the source of sustainable competitive advantage in the external environment of the firm while the RBV pays attention to the internal resources of the firm. The main objective of this paper is to amend the RBV from a dynamic point of view & incorporate the theory of entrepreneurship in the RBV of strategic management. As it is insufficient that most researchers have overlooked the entrepreneurial abilities and strategies as a crucial source of competitive advantage of a firm despite that the abilities of the entrepreneur are undoubtedly the principal human resource possessed by a firm. I. Strategy & External Environment of a Firm: Researches has proven that the firm needs to seek strategic fit between the external environment (threats & opportunities) & the internal resources the firm (strength & weaknesses). In 1980s the CFA presented by Porter conceptual framework was based on the “structure – conduct – performance paradigm” of industrial organization, he examined the question of “how will a firm be able to get a competitive advantage over its competitors?” The rules of competition...
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...SUSTAINABLE COMPETITIVE ADVANTAGE: AN ORGANIZATIONAL LEARNING APPROACH John I. Njuguna1 Jomo Kenyatta University of Agriculture and Technology Juja, Kenya Abstract Organizational learning is increasingly being considered as one of the fundamental sources of competitive advantage within the context of strategic management. However, most literature has not clearly linked organizational learning with sustainable competitive advantage. This paper, therefore, explores and discusses the role of organizational learning in helping business firms to achieve sustainable competitive advantage. Specifically, it deals with how organizational learning process can be used to develop knowledge resources and capabilities that lead to sustainable competitive advantage. The main method used is analysis and integration of theories to develop a conceptual model. This paper proposes that, through organizational learning a firm can develop hard to imitate knowledge resources and capabilities (human capital as well as organizational capital) that create value which in turn lead to superior performance. INTRODUCTION In the 21 century business landscape, firms must compete in a complex and challenging context that is being transformed by many factors from globalization, frequent and uncertain changes to the growing use of information technologies (DeNisi, Hitt and Jackson, 2003). Therefore, achieving a competitive advantage is a major preoccupation of senior managers in the competitive and slow growth...
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...Pharmaceuticals LTD Clinton Stucker American Military University Abstract In this paper we will discuss the competitive advantage of Teva Pharmaceuticals as well as Teva’s resources to continue to grow and remain dominant within the pharmaceutical industry. As industries evolve it is important for companies to evaluate their strengths and weaknesses in order to maximize their potential to succeed. In this paper we will evaluate Teva’s greatest strengths and resources that will enable the company to continue to grow and compete within the generic drug industry. This paper will be a guideline for how Teva should move it company forward in the future. Introduction Teva pharmaceuticals is known for its operational efficiency within the generic pharmaceutics industry. Information gathered from TevaPharm.com provides a clear picture of how the company is so successful within the pharmaceutical industry; Teva pharmaceuticals operates globally within sixty countries and consists of fifty four pharmaceutical production plants. The Teva company is a global industry that maintains a completive advantage as “During 2012, Teva's plants manufactured approximately 73 billion tablets and capsules and over 720 million sterile units (Tevapharm.com)”. Teva’s Competitive Advantage The Teva pharmaceutical company enjoys a serious competitive advantage within the generic pharmaceutical industry. Their biggest advantages include their operational expertise as well as their immense operational network...
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...sources of sustained competitive advantage of a firm. To develop the strategy we need to analyze the firm’s internal strength and weaknesses (resource based model) as well as the external opportunities and the threat(environmental models). Environmental model is based on heterogeneity and mobility of the resources and assumes that all firms have the same strategy and the resources are heterogenic and mobile so the competitive advantage are not long lasting. Where as resource based model states that resources are immobile as well as heterogenic and can have long lasting competitive advantage. Firm resources are categorized into three types – physical capital resources, human capital resources and organizational capital resources. Some of the attributes of this resources can be used for developing strategies for increasing the effectiveness and efficiency of a firm. We need to specify conditions under which we can select resources which can be used as an competitive advantage. Competitive advantage means that a firm as a value added strategy over others and competitive advantage can only be sustainable if the other firms cannot duplicate that strategy. Once the strategy is being duplicate depending upon the strategy of the competitors or due to change in economic condition it is not longer sustainable. In an industry where firms have similar resources I,e resources are homogenous and mobile, it is not possible to have sustainable competitive advantage as they apply the...
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...BIS5101 Strategic IT-Management Prof. Dr. Karl-Heinz Rau WS 2013/14 Term Paper Topic: How Companies Could Achieve Sustainable Competitive Advantage Gahn, Philip MACFA, ID# 309601 gahnphil@hs-pforzheim.de Kominek, Lukas MACFA, ID# 300953 komluk@hs-pforzheim.de Wenz, Eugen MACFA, ID# 300636 weneug@hs-pforzheim.de th Submission date: November 2 2013 2 Table of Contents 1 Purpose and Structure ......................................................................................... 5 2 Definition and Origin of Competitive Advantage .............................................. 6 3 Approaches and Methods to Achieve Competitive Advantages......................... 8 3.1 The Traditional Approach According to Porter ........................................... 8 3.1.1 Cost Leadership ................................................................................. 10 3.1.2 Focusing on Priorities ........................................................................ 10 3.2 Modern Approaches .................................................................................. 10 3.2.1 The Strategy as a Compilation of Simple Rules ................................ 11 3.2.2 The Blue Ocean Strategy ................................................................... 12 4 Ways to achieve Sustainable Competitive Advantage...................................... 13 5 Conclusion ............................................................................
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...Competitive Advantages Paper MGT/498 10/20/2014 Competitive Advantages Paper To remain competitive in the ever-changing industry of plastics and global trade Riordan Manufacturing must stay up on the latest and greatest ideas and trends. While doing this Riordan must also tend to the needs of the new customers it creates and the concerns of the existing customers it has made. In the following we will discuss the similar competitive advantages of a Riordan and other companies such as General Mills and Apple, Inc. that were researched in addition to Riordan by team members last week. We will then estimate which competitive strategies Riordan could use to improve innovation and sustainability of business operations in both the United States and globally. We will discuss why we chose those competitive strategies and estimate why they might affect sustainability of long-term organizational performance. Finally we explain how the global market would affect the business strategy of Riordan. Riordan Manufacturing is a global plastics manufacturer that employs 550 people. It is a wholly owned subsidiary of Riordan Manufacturing Industries, which has earning of more than $1 billion. The company’s headquarters in San Jose, California but has many locations worldwide. Riordan has global reach with production facilities in China and the United States. Having that global reach has afforded Riordan...
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...capabilities. Compared to other theorists on strategy, for example Porter, who focus is on the environment of the firm, the RBV emphasizes on the impact of idiosyncratic attributes of the firm on its competitive position (Barney, 1991). Barney (1986) introduced the term of strategic factor markets in order to analyze the cost of strategy implementation and obtainable returns. Whenever a firm wants to acquire any resources, a strategic factor market arises. For instance, a company acquires a firm and pays for certain opportunity costs an amount of capital. This decision could either have a more positive, negative or an expected effect related to the strategy implementation cost and these differences have to be explained. Positive effect, i.e. competitive advantage, can be gained only if a market is not considered to be perfectly competitive, but heterogeneous. Therefore, a company should use a framework to help firms anticipate the imperfections in these markets. Firms can be responsive in two ways: first, firms aiming to achieve above normal returns from implementing market strategy have to be better informed concerning the future value of those strategies, i.e. have more accurate expectations than other firms acting in the same strategic factor markets. Second, firms have to analyze its’ competitive environment and its unique skills and capabilities. However, the environmental analysis contribute less in a better understanding compared to competitors, since the information is public and...
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...businesses. The information system specific functional areas are production, marketing, finance, personnel and accounting. Each of these functions requires application to perform well in each particular area. The financial information system will give Lisa and Reuben the ability to manage the process of the business financial functions such as availability and cost, budgeting for present and future cost. It will also give them the leading edge of handling multiple currencies, investment management and the ability to close their books on a short notice. The marketing function will give them the ability to market different function the club is offering by setting pricing according to their customer profile base. It will also give them the competitive advantage of...
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...Citation: Netland, T. H. & Aspelund, A. (2013) Company-specific production systems and competitive advantage: A resource-based view on the Volvo Production System. International Journal of Operations & Production Management, Vol. 33, Iss. 11/12 Post-print. This is an Author's Original Manuscript of an article accepted for publication in the International Journal of Operations & Production Management, Vol. 33, Iss. 12. Forthcoming. Company-specific Production Systems and Competitive Advantage: A resource-based view on the Volvo Production System Torbjørn H. Netland1, 2 and Arild Aspelund1 1 Department of Industrial Economics and Technology Management, NTNU 2 McDonough School of Business, Georgetown University Abstract Purpose: In order to improve competitiveness on a global scale, multinational enterprises increasingly develop a company-specific Production System (XPS) and deploy it in their worldwide operations. An XPS is synonymous with a tailored corporate-wide improvement programme. The purpose of this paper is to explore the circumstances under which an XPS can provide a competitive advantage. Methodology: We use an explorative case study methodology to investigate the link between the establishment of an XPS and competitive advantage. Specifically we investigate the part of the Volvo Group’s globally implemented Volvo Production System (VPS) that aim to improve the manufacturing processes worldwide. Due to its historical trajectories, Volvo ...
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...1. Introduction This paper aims at examining a case study of the Hispanic oriented broadcasting Company Entravision. With outdated customer inquiry strategies such as focus groups or interviews, Entravision slowly but surely fell behind in the ever more digitalized broadcasting market. Having found a market niche in the Hispanic market segment, Entravision set out to create a new Data analytics department called Luminar to utilize and profit from information gathered about the Hispanic core customership. The first segment argues whether and how Luminar is able to create value by implementing Big Data analysis. Consequently, this paper tries to clarify whether the obtained advantage can indeed be of a sustainable nature and thus allow for an independent and successful department within the Entravision construct. Furthermore, the data gathering capabilities are being analyzed to inquire into whether there is viable competitive power to benefit from the advantages mentioned priorly. Finally, having established the background for the undertaking, the paper will shed a light on how exactly the department would fit into the organizational structure and what benefits and pitfalls the embedment or independent venturing of Luminar would have. 2. Value Creation In order to asses the added value of Luminar to the mother enterprise Entravision this paper will provide a first outlook of the Latino segment in the US and then conclude with the Big Data analytics aspect, which comprises...
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...Environmental Scan Paper MGT/498 June 18, 2015 Environmental Scan Paper The purpose of an environmental scan is to examine the internal and external environment of a company, in an effort to identify needs, plan improvement tasks and monitor the changes. This process is essential when the company is planning to conduct a reorganization in an effort to improve productivity and reduce costs. If the environmental scan is conducted properly, it will help to align the organization with the desired objectives of the company. On a positive note, the environmental scan can point out competitive advantages and strategies currently in place. The scan is a pretty well-rounded in that it can also assist in the creation of business strategies, which will continue benefit the organization and keep it at a competitive level. The final area that the environmental scan benefits the organization is in the monitor and control region. The process reviews the methods in which the company measures the effectiveness of the strategies in place. Internal and External Environments Completing the environment scan aids in identifying the organization’s in-house needs, assets, and values. The scan will also provide insight into the external environment (the industry) that the company operates within. Ultimately, the scan will help the company form a vision while also identifying their strengths, weaknesses, opportunities, and threats (SWOT) (Barnat, 2014). A SWOT analysis uses internal and external...
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