You talk with Mike and Tiffany at lunch. “You’ve done some great research and br

Question

You talk with Mike and Tiffany at lunch. “You’ve done some great research and brought up some good ideas to implement in the presentation,” you say. “There is one element that we are missing.”

“One of the most important aspects of the strategy: our competitors,” Tiffany states.

“I’ve already done some analysis, and there are many in the global market. It seems like there are several office furniture companies thriving, but not as many custom furniture manufacturers,” Mike elaborates.

“Well, we need to provide the board with some solid competitors. I’ll work on finding our top two,” you say. Complete the following:

Who are your top 2 global competitors in the market?

Provide a strengths, weaknesses, opportunities, and threats (SWOT) analysis for each competitor.

Why are they direct competitors?

What is their competitive advantage?  

Could you form a cooperative strategy with any of the competitors?

If so, how?

If not, why?

What strategies could you use to build a competitive market profile?

What is balanced scorecard?

Explanation / Answer

SWOT Analysis

Competitive Advantage: The market of custom manufacturing of furniture is a niche market and is constantly growing. Being an established player in this market helps the organization grow faster. Since the products are custom built, the cost of the products is relatively higher and it doesn’t follow the traditional mass production. This supports the organizations strategy to price the product at a higher cost and hence providing better margins.

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