1. Here\'s a question for you. Does a company always have to keep the competitio
ID: 348748 • Letter: 1
Question
1. Here's a question for you. Does a company always have to keep the competition in mind when when planning for the future? Can you think of any company that just forges full steam ahead without a thought as to what other companies are doing....and they are very successful? How do they do that? What's their secret weapon?
2. By and large, most companies are not in a position to forget about the competition as we discussed in the previous topic. Most companies find success when they find and keep a competitive advantage, Here's a link Competitive Advantage Tutorial to further describe competitive advantage For this topic, list a company that you believe has a competitive advantage in one of these categories and explain your reasoning. For example, with its everyday low price strategy, Walmart has a cost leadership competitive advantage. It maintains this leadership position because it has the buying power with its suppliers to demand the lowest cost for its inventory, which it passes on to its customers its the form of lowest prices.
Explanation / Answer
1. No, I don't think that a company always have to keep the competition in mind when planning for the future because if that is done, then the actual planning may be hindered which should be unique and not dependent on competition. I think that Zappos is an organization that forges full steam ahead without thinking of their competition because they rely on customer knowledge rather that competition knowledge which makes them different from the crowd. I believe that this is the secret weapon that they possess thinking about customer needs and also employee well being which makes them possess a competitive advantage over the others.
2. I believe that Apple possess a competitive advantage over its competitors because of the unique and creative nature Apple possess. Imagination and innovation has been the key for Apple and they have been successful in implementing that throughout the industry. This has made Apple products widely accepted by the end users.
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