Competitive Advantage and International Business
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Competitive advantage and international business

Hello and welcome to today's seminar. Today is a two part seminar that covers two of the hottest and most sort after business topics. These are competitive advantage and international business. Many of you may have heard about these two terms but may not know what they mean so I will start by defining these two terminologies.

Competitive advantage

Competitive advantage can be defined as the advantage which one company or organization has over and above what its competitors have. It is the advantage that one company gains above another by offering consumers greater value.

How does value creation lead to competitive advantage?

When talking about competitive advantage, we have mentioned value. So how exactly does value come in? The company or organization needs to create a certain value in the market. Value refers to the perceived benefits of the product…...

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References

Arend, R.J. (2009). Defending against Rival Innovation. Small Business Economics, 33(2), 189-206.

Chen, A.N.K., & Edgington, T.M. (2005). Assessing Value in Organizational Knowledge Creation: Considerations for Knowledge Workers. MIS Quarterly, 29(2), 279-309.

Collins, C.J., & Clark, K.D. (2003). Strategic Human Resource Practices, Top Management Team Social Networks, and Firm Performance: The Role of Human Resource Practices in Creating Organizational Competitive Advantage. The Academy of Management Journal, 46(6), 740-751.

Doukas, J.A., & Lang, L.H.P. (2003). Foreign Direct Investment, Diversification and Firm Performance. Journal of International Business Studies, 34(2), 153-172.

Competitive Advantage in Healthcare Through Competitive Pricing
The healthcare industry is just like any other service sector that needs uniqueness and control over costs to excel. Since the cost of conducting business is increasing, there is a need that the healthcare professionals should understand that cost plays a vital role in attracting physicians as well as the patients. The patients are increasingly getting control over the price than the provider. Organizations realize that the future of industry is becoming more challenging. Simply focusing on the bargaining power will not be enough. The organizations should also try to improve and link the quality to the price of product or service (Miller, 2011). The cost concern should be such that neither the company's revenues should be ignored and nor the client should be over charged. The future seems to be difficult in terms of lowering costs given the increasing energy prices that affect…...

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References

Craig, M.S., (2013), "Price transparency gains ground as lead healthcare issue," retrieved from:

 http://www.healthcarefinancenews.com/blog/price-transparency-gains-ground-lead-healthcare-issue 

Dayaratna, K., (2013), "Competitive Markets in Health Care: The Next Revolution," Retrieved

From:  http://www.heritage.org/research/reports/2013/08/competitive-markets-in-health-care-the-next-revolution

Marks & Spencer further has quality food products that are perishables such as salads and vegetables. This is complex and requires accurate and fast delivery to the UK food stores.
The work entitled: "Keeping Real Time Tabs on Fresh Food Supply Helps Guarantee the quality of Perishable Products" cites the statement of the Head of Supply Chain Logistics and it at Marks and Spencer who states that in order to stay ahead of the competitors Marks & Spencer's management has been expedient and efficient in identification of the potential benefits of RFID (radio frequency identification) for improving the supply chain in fresh food. According to Gary Pile General Manager of Melrow Salads: "Once Marks & Spencer decided to move ahead with RFID, we took the opportunity to work with them. RFID brings real benefits in improving our operational efficiency, giving us constant detailed feedback on our performance. That enables us…...

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Bibliography

Couto, Vinay; O'Toole, James; and Levenson, Alec (2002) Leading in (and out of) Adversity. Center for Effective Organizations. Online available at:

Robert, Michael (2006) Product Innovation Strategy, Pure and simple: How Winning Companies Outpace their Competitors. Online available at  http://books.google.com/books?id=t0BfAyjHeo8C&pg=PA99&lpg=PA99&dq=johnson+%26+johnson+competitive+advantage&source=web&ots=dfpqTLBU0f&sig=QFJD5OWC7fIbGHCqmETH8h5O8rU#PPP1,M1 

Porter, M. "The competitive advantage of Nations. Harvard Business Review, March-April 1990: 73-91.

Porter, M. "How Competitive Forces Shape Strategy," Harvard Business Review, March-April 1979.

Competitive Advantage
In contemporary times, competition is getting tougher with the passage of time and therefore product leaders are propelled to present novel and unprecedented products, nevertheless, what is meant by 'best product'? And which type of product decisions do the product leaders make in this regard? Generally, when consumers purchase a product they comprehend that it gives them a superior level of satisfaction as compared to the other competing products in the market. For instance, when consumers purchase a Ferrari they comprehend that they are the owner of a car with luxurious interior, better motor, and a superior design compared to a majority of the cars present in the market. Furthermore, when consumers select McKinsey over any other consultant of the business market, they comprehend that they will obtain a better suggestion as compared to the suggestion from other consultants. However, what precise product benefits do the product leaders actually…...

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Bibliography

Verweire, K., and Revollo, J.E. (2009). Sustaining competitive advantage through product innovation: How to achieve product leadership in service companies. The Flanders DC Knowledge Centre.

Anderson, James C., Hakan Hakansson, and Jon Johanson. 1994. "Dyadic Business Relationships Within a Business Network Context." Journal of Marketing 58 (October): 1-15.

Austin R.E. And Beyersdorfer, D. (2007) "Bang & Olufsen: Design driven innovation," Harvard Business School case, No. 9-607-016.

Auw, E. (2009). Human Capital, Capabilities & Competitive Advantage. International Review of Business Research Papers: Vol. 5 No. 5.

Competitive advantage may be described as the development of an exceptional position of an organization relative to its competitors in consequence of its decisions concerning "the product-market scope of its operations and its pattern of resource allocations" (Gomes, 1988). It is a general assumption that such a position will make it possible for the organization to receive an elevated outcome on investment regardless of competitive stress and demands (Gomes, 1988).
Activities are described as the indispensable components of competitive advantage. If an organization implements a distinctive strategic positioning by competing on the base of elasticity, cost, excellence, momentum, multiplicity and selection and so on, it can definitely have a competitive advantage over the other organizations. The meaning of strategic positioning here is that an organization either performs different activities as compared to its opponents or performs parallel activities in dissimilar manners (Lowson, 2002, p. 58).

Competitive advantage, thus, initiates from the unique…...

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References

Gomes, G.M. (1988). Excess Earnings, Competitive Advantage and Goodwill Value. Journal of Small Business Management, 26(3), 22+. Retrieved June 10, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5000109734 

Lowson, R.H. (2002). Strategic Operations Management: The New Competitive Advantage. London: Routledge. Retrieved June 10, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=102807910 

Schachter, D. (2005, April). Competitive Advantage and Information Services. Information Outlook, 9, 12+. Retrieved June 10, 2012, from Questia database:  http://www.questia.com/PM.qst?a=o&d=5037252462

Production centers then fulfill multiple strategic goals of being supply chain coordination points or hubs, customer listening locations to understand how to better serve local markets with customized products, and also alleviate inventory carrying costs while striving to deliver systems specifically configured to customers' needs within three days or less.
The disadvantages of Dell having their production centers located in diverse locations globally is that knowledge transfer between locations is made more difficult by both distance and varying cultures in each nation. In addition, the economies of scale possible having production located in one physical location are obviously not possible, nor is the ability to synchronize all company demand with just one contact point for each of their suppliers. Diverse production center locations require an inordinately complex supplier relationship management system to make sure the minimum amount of components and subassemblies are in each location at precisely the right time…...

Competitive Advantage of Zero Motorcycle
Zero Motorcycle has been the world's largest producer of high performance electric motor cycle. Zero motorcycle has competitive advantage of being highly innovative, customer friendly and good distribution channel. Moreover, some of the models like Zero DS could be used from street to mountains and has more power. Its competitor rammo Inc. has not innovation as the Zero X has and more they are more focused on racing bikes and moreover they have not distribution channel as the Zero motor bike has.

Zero X should continue to focus on the innovation it has got for its customers and moreover, it is also customer friendly. Its growth entirely depends on its innovation, low price and excellent distribution channel. However, Zero distribution channel lacks the coverage of Asia properly as Asia is the largest continent by population so it should also focus on Asia.

Zero motorcycle needs more innovation in…...

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Bibliography

Bucher, DH Centre For Creative Leadership.

Real Innovation. (n.d.). Retrieved from INNOvation leadership: http://www.realinnovation.com/tools_tactics/leadership.html

Selman, J. Leadership and innovation.

Spain is not actively courting this market, whereas the Greek government is. This strategy also allows Greece to leverage the power of its other strengths. Greece has as much sun as Spain, which while not a competitive advantage can be combined with the conference focus to enhance it. Additionally, Greece would also leverage its comparative advantage in history. A conference in Greece would afford the conference-goers an opportunity to do more than simply attend a trade show or meeting. They could take a few extra days to enjoy the sun and the sights. This would enhance the economic potential of the conference market.
The conference business is growing, recent economic troubles notwithstanding. Companies and industry groups are constantly seeking new, exciting destinations for their conference travel. Greece, with its traditional focus on island-tourism, is a new horizon for this market. Because Greece already has a substantial infrastructure and myriad attractions,…...

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Works Cited

No author. (2005). World's Top Tourism Destinations. World Tourism Organization. Retrieved March 11, 2009 at  http://unwto.org/facts/menu.html 

No author. (2005). Spain Slips to 6th Place in Tourism-Industry Rankings. World Economic Forum. Retrieved March 11, 2009 at  http://www.surinenglish.com/20090305/news/spain/spain-slips-place-tourism-200903051003.html 

No author. (2005). International Tourism Receipts by Country of Destination. World Tourism Organization. Retrieved March 11, 2009 at  http://unwto.org/facts/eng/pdf/indicators/new/ITR05_europe_US$.pdf

Strategic Planning for a Competitive Advantage in Health Care
Strategic planning is essential for healthcare managers in maintaining high quality and cost effective healthcare in a competitive market. Planning techniques are vital in establishing a sustainable completive advantage. A successful healthcare manager must formulate a concise but comprehensive plan to take inventory of available resources, to discern the strengths, improves on the weakness, and establishes a plan that effectively prioritizes them. The resource-based management tool can be utilized to assist managers in assessing the value of available resources to gain a competitive advantage within their market. Resources in a healthcare organization can include such things as tangible assets, employee capabilities, organizational structures or information processes. The value of a product or service has three qualifiers are rareness, imitability, and sustainability. This paper will briefly introduce value and the three qualifiers of key resources, and offer an opinion as to which is…...

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Works Cited

Barney, JB. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), pp 99-120

Competitive Advantage for INVs
Competitive Advantage in Global Economy

The seminal work of Oviatt and McDougall (1994) on international new ventures (INV) informed the literature, particularly with regard to posing different tenets than those commonly accepted in Uppsala model. Principally, the Uppsala model theories pointed to a number of attributes that were considered basic to firms moving into or intensifying their participation in foreign markets. The indicators of the Uppsala model are generally considered to be as follows: (1) firms gain experience from the domestic market before they engage in foreign diversification; (2) foreign operations are typically begun in countries that are geographically or culturally close to those of the home country of the firm, and move gradually to countries that are geographically distal or are culturally more different; (3) firms begin operating in foreign countries through traditional export activity and move gradually to modes of operation that are more demanding…...

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References

Dimitratos, P. And Plakoyiannaki, E. (2003). Theoretical foundations of an international entrepreneurial culture. Journal of International Entrepreneurship, 1(2), 187-215.

Elgar, Edward (2003). Learning in the Internationalisation Process of Firms. p. 261. ISBN 1-84064-662-4.

Oviatt, B.M. & McDougall, P.P. (1994) 'Toward a theory of international new ventures', Journal of International Business Studies, 25 (1), pp. 45 -- 64. Retrieved

 http://www.palgrave-journals.com.ezproxy.liv.ac.uk/jibs/journal/v25/n1/abs/8490193a.html

Operations Management 3 Purchasing
a. The product available for purchase is a pair of Chanel shoes. There are a number of things that I would take into consideration. Buying behavior is strongly related to whether the purchase is a high-involvement purchase or a low-involvement purchase. A high involvement purchase would involve significantly more time and research than might be the case for a low involvement purchase. Therefore, the amount of research, consideration and time that one would take for this pair of shoes will be dependent on whether the consumer views this purchase as high involvement or low involvement. As Deshmukh and Das (2012) note, social class can be a determinant of consumer behavior, and a pair of Chanel shoes is definitely one of those products. For some, this is a low involvement purchase and for others a high involvement one.
For me, this purchase fits a bit in the middle. The shoes…...

Ethical Scandals in Government Contracts Competitive advantage involves offering the consumer a unique value proposition that other brands cannot. The core principle behind the act of branding is that to thrive, a business must offer something its nearby competitors does not offer. For example, competitors may offer a similar product, at a similar price point. Thus, savvy businesses must either offer a product that competitors do not (either because the organization is catering to a specific niche), a unique service (such as special delivery service or additional customer service and support), or must strive to offer the product at a price point its competitors cannot meet (such as a company which sells at high volume and can offer lower prices) (“Competitive Advantage,” 2021). Competitive advantage is something that must be attained ethically, however. For example, a company cannot make a promise it can meet a specific price point, then renege upon…...

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Reference

Competitive advantage. (2020). SBA. Retrieved from:  

Pringle, M. (2021). Elected watchdogs in scandal-plagued cities show how SF might avert future corruption. SF Public Press. Retrieved from:  https://www.sfpublicpress.org/elected-watchdogs-in-scandal-plagued-cities-show-how-sf-might-avert-future-corruption/ 

Thompson, L. (2004). The corporate scandals: Why they happened and why they may not happen again. The Brookings Institute. Retrieved from:  https://www.brookings.edu/on-the-record/the-corporate-scandals-why-they-happened-and-why-they-may-not-happen-again/ 

https://learn.sba.gov/learning-center-market/learning-center-competitive-advantage 

The Company Google (Alphabet Inc.)Internal Strengths and WeaknessesStrengthsi. Brand reputation: Google happens to be a well-known brand that is generally well regarded by various stakeholders including, but not limited to, customers. In essence, as one of the most recognized brands in the world, Google is to a large extent considered a market leader in its space which could help in efforts to promote customer loyalty.ii. Financial stability: Googles total revenue, as has been indicated in the financial analysis section, has been on an upward trend over the last five years. This has allowed the company to invest in various systems and features that further enhance its ability to satisfy customer needs.Weaknessesi. Overreliance on advertising revenues: Google derives a huge chunk of its revenues from advertising. As a matter of fact, 81.3% of the companys revenues in the year 2021 could be traced back to advertising. It is important to…...

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References

Brigham, E.F. & Houston, J.F. (2015). Fundamentals of Financial Management. Cengage Learning.

Elias, J. (2022). Google employees are becoming unhappy with pay, promotions and execution, survey results show.  https://www.cnbc.com/2022/03/14/google-employees-growing-unhappy-with-pay-and-promotions-survey-shows.html 

Fabozzi, F.J. & Drake, P.P. (2009). Finance: Capital Markets, Financial Management, and Investment Management. John Wiley & Sons.

In terms of Interfunctional Coordination, the company I work for is average, there is not a strong level of functional coordination to deliver customer value; rather the concentration is on creating stand-alone superstar products that carry other divisions financially.
The triad of Customer, Competitor, and Interfunctional Coordination that comprise the definition of a market-oriented culture (Narver, J. & Slater, S., 1990) are essential for competitive differentiation and competitive advantage. Further, the combining of these factors contributes to an organization becoming more agile and capable of responding to market conditions. The essence of competitive advantage is in aligning internal strengths or core competencies with external market opportunities while minimizing threats (Christiansen, C., 2001).

eferences

Narver, J. & Slater, S. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54/4, 20-36. etrieved December 3, 2007 from EBSCO Host database.

Christiansen, C. (2001) the past and future of competitive advantage. MIT Sloan…...

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References

Narver, J. & Slater, S. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54/4, 20-36. Retrieved December 3, 2007 from EBSCO Host database.

Christiansen, C. (2001) the past and future of competitive advantage. MIT Sloan Management Review, Winter: 105-109. Retrieved December 3, 2007 from EBSCO Host database.

In addition, it will be necessary for the company to continue to use technology to stay on the cutting edge of shoe innovation.
eferences

Adidas." MarketLine 2006. Datamonitor database. Datamonitor. University of Phoenix, Phoenix, AZ. November 28, 2006 http://dbic.datamonitor.com.

Beckett, W. "Merging Performance and Fashion." Women's Wear Daily 192(39) 2006 Aug 24: 9. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. November 28, 2006 http://web.ebscohost.com.

Binole, G. "Asian Market Forces Could Affect Nike." Portland Business Journal. (1997 Nov 7). November 28, 2006 http://portland.bizjournals.com/portland/stories/1997/11/10/story3.html.

Callaway Golf." MarketLine 2006. Datamonitor database. Datamonitor. University of Phoenix, Phoenix, AZ. November 28, 2006 http://dbic.datamonitor.com.

Daley, W. The Emerging Minority Marketplace. No date. U.S. Department of Commerce. November 28, 2006 http://purl.access.gpo.gov/GPO/LPS70698.

Fredeen, B. Knowing Nike's Customers. 2000 Feb 1. Motley Fool. November 28, 2006 http://www.fool.com/news/foth/2000/foth000201.htm. v.

Ellis, K. "Global Competition Intensifies Industry Lobbying." Women's Wear Daily 191(86) 2006 April 24: 14-15. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. November 28,…...

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References

Adidas." MarketLine 2006. Datamonitor database. Datamonitor. University of Phoenix, Phoenix, AZ. November 28, 2006 http://dbic.datamonitor.com.

Beckett, W. "Merging Performance and Fashion." Women's Wear Daily 192(39) 2006 Aug 24: 9. Business Source Complete. EBSCOHost. University of Phoenix, Phoenix, AZ. November 28, 2006  http://web.ebscohost.com .

Binole, G. "Asian Market Forces Could Affect Nike." Portland Business Journal. (1997 Nov 7). November 28, 2006  http://portland.bizjournals.com/portland/stories/1997/11/10/story3.html .

Callaway Golf." MarketLine 2006. Datamonitor database. Datamonitor. University of Phoenix, Phoenix, AZ. November 28, 2006 http://dbic.datamonitor.com.

Firms meet the challenge of technological change by redesigning their innovation ecosystems in several key ways. This approach involves a strategic overhaul of their internal and external operations, relationships, and culture to foster innovation and adaptability. Here's how they do it:

Embracing Open Innovation: Moving away from solely in-house R&D, firms are increasingly embracing open innovation. This involves collaborating with external entities like startups, academic institutions, and other companies to source new ideas, technologies, and methodologies. This collaboration can take various forms, including joint ventures, partnerships, and innovation hubs.

Investing in Digital Transformation: Firms are investing heavily in digital technologies such as....

As a behavioral health entrepreneur, it is crucial to utilize various methods of analysis to determine which strategies are the best for your business. These analysis methods can help you make informed decisions, understand your target audience, and drive effective outcomes. Here are some key methods to consider:

1. SWOT Analysis: Conduct a comprehensive assessment of your business's strengths, weaknesses, opportunities, and threats. This analysis will provide insights into your competitive advantage, internal challenges, market potential, and potential risks.

2. Market Research: Gather data and insights about your target audience, competitors, market trends, and customer preferences. This analysis will enable you to....

1. Analyzing the impact of employee turnover and training on the success of the Benihana simulation.
2. Exploring the role of communication and teamwork in achieving optimal performance in the Benihana simulation.
3. Investigating the effectiveness of decision-making strategies in maximizing profitability in the Benihana simulation.
4. Evaluating the importance of customer satisfaction and feedback in the Benihana simulation.
5. Examining the potential challenges and obstacles faced by participants in the Benihana simulation and strategies to overcome them.
6. Comparing and contrasting different approaches to managing and optimizing resources in the Benihana simulation.
7. Discussing the role of leadership and delegation in achieving success in the....

Original Thesis Statement:

In today's ever-evolving financial landscape, strategic investment decisions are paramount for maximizing portfolio growth and mitigating risks. By meticulously analyzing market trends, evaluating investment opportunities, and implementing a well-diversified approach, investors can navigate market volatility and achieve their financial goals.

Refined Thesis Statement:

In the dynamic and multifaceted world of investing, the judicious allocation of capital is crucial for achieving optimal portfolio performance. Through a comprehensive analysis of market conditions, the evaluation of potential investments, and the implementation of a prudent diversification strategy, discerning investors can navigate market uncertainties, mitigate risks, and maximize returns in the pursuit of their financial....