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Running head: HELLO, I’M YOUR MOTIVATIONAL SPEAKER
Hello, I'm Your Motivational Speaker
Given that we all know what competitive advantage is. great for this reason I am here! We shall start by first describing the meaning of competitive advantage. global business is just business which operates on a worldwide level. Competitive advantage is “superiority gained by a firm when it can provide the same value as its competitors but at a lower price. I am happy to see so many of you here curious to know about some of today’s most popular business subjects. Therefore roughly one half of you then. I'm Your Motivational Speaker Hello and thank you for joining me today. or can charge higher prices by providing greater value through differentiation. Excellent! That's a lot more than I was expecting. desired to know about or have talked about competitive advantage in your respective businesses? (Roughly 75% of the audience raises their hands). 2010. I'M YOUR MOTIVATIONAL SPEAKER 2 Hello. As the majority of you may understand. As a result. this . knowing its connection to worldwide business is important. what number of you have heard of. I have been hired by a renowned national business company to carry out this seminar today. Let me tell we will have a wonderful seminar already! My second question for you is what number of you are bewildered by competitive advantage? (Roughly 50% of the audience raises their hands). This impressive seminar I am going to present will cover the subjects of competitive advantage and global business. we are all here to know! To begin with. The fact is. Competitive advantage results from matching core competencies to the opportunities” (Competitive Advantage. p. in case you have any queries during the seminar don't hesitate to ask. Additionally. a main objective for business strategy is to achieve competitive advantage. Competitive advantage lets an organization to make greater earnings compared to cost of investments. I am extremely enthusiastic to share my views. Global business is the frontline for substantially improving and optimizing business systems. I am (______) and I am a well known business legend and inspirational speaker. however. 1). earnings are important to competitive advantage.HELLO.
seven days every week. the company’s knowledge increased too. Wal- . discount stores for example Wal-Mart deliver cost savings to their customers by providing affordable prices on products. Wal-Mart is the perfect example once more. Additionally. they have customer service available round the clock. K-mart is yet another instance of a cost reducing store. particular customer. The store can maintain profit margins equally with rivals. and eventually into the international markets. Cost leadership needs organizations to develop policies directed toward growing to be the low-cost manufacturer and supplier in the market. Though I have no connection. 35). I should point out that Michael Porter’s Competitive Strategy is a must read (he also has a number of other valuable articles). for the reason they can save on costs. This requires exploring a target market and focusing on a product line. for instance their units provide them competitive advantage since they offer features which other units don't.HELLO. This resulted in the capability to grow in the area. Wal-Mart gets a competitive advantage since they can offer the same items at inexpensive rates. Since the company developed its good reputation for low-prices and wide variety. or supply channel. and focus on a particular market niche” (Porter. The third strategy is centering. geographical region. after that the country. Porter states. This book provides a great summary of competitive strategy and evaluation. But. This company started in small cities in the Midwest and South. I'M YOUR MOTIVATIONAL SPEAKER 3 can generate fiscal and operational benefits as well as earnings on investments to give companies the strategy to develop competitive advantage. 1998. p. The second strategy. involves the organization developing an exceptional item to the industry. Get Hewlett-Packard (HP). differentiation. For instance. distinguishing. “that there are three generic strategies: overall cost leadership. while Wal-Mart swiftly turned away this strategy by reducing rates even more.
Now we will move ahead to the strategy of developing value. a company can be run away from its home country to avoid expenditures when rules are excessively limited. Even further. generating value strategy achieved! Sadly. What is tougher. In global business. Evaluating one’s organizational requirements is necessary since each company’s objectives may vary and need a different strategy. however many options are there too. these possible troubles should be expected and contained in the organization’s strategy to maintain competitive advantage. better quality. Worldwide business lets a company to grow its market internationally.HELLO. For that reason. it's not really so easy. shipping expenditures are increased due to tariffs. More dangers occur when organizations take part in international trade or intercontinental business. and later on progressed past its main market. an organization has competitive advantage if it is using a value developing strategy not being used by any other rival. right? Simply make some different items from what the country has experienced and viola. several strategies are frequently used and collectively they produce competitive advantage. Definitely China and India would agree! Even though these . something which separates the organization and results in an advantage over the competitors. generating value can come in the shape of personalized goods customized to a particular country’s requirements or supplying caliber the country has never experienced previously. For instance. special deals or campaigns. As stated previously. Forex rates can change too and that result in a loss. many problems are there. Some dangers include worldwide supply chain uncertainty. I'M YOUR MOTIVATIONAL SPEAKER 4 Mart started by concentrating on a cost leader strategy in a specified market. This appears like as simple as 123. Therefore how does the organization generate value? A company can generate value by execute known as the value chain. and so on. Actually. guaranteeing deliveries can be much harder due to communication breakdowns. fuel prices. This can be achieved by low priced.
Chief Financial Officer. Thorough research of the market is necessary and will assist in the decision-making method. Along with potential problems and dangers. it's good for a company to increase rates. requirements. Beginning with some simple exporting would be a great method to know regarding the needs. Customs and Border Protection issues don't crop up? Who has direct connection with the Chief Executive Officer. The organization has to be well geared up and work in a very efficient manner. the company requires asking some queries.HELLO.S. For instance. does the company possess sufficient internal controls for import or export procedures? Is the trade data correct and known so financial systems aren't impacted and U. For that reason so long as the price elasticity of demand is under one. This would also aid in reducing danger. an organization can experience huge gains by working in richer markets. memorandum of understanding. and activities of the market. the elasticity . 2010. This lets the organization to get more money for fewer items. p. sales increase with drop in prices and decrease with rise in prices” (Elasticity of Demand. international direct investment. This can come in the shape of joint projects. I'M YOUR MOTIVATIONAL SPEAKER 5 countries are relaxing some rules presently. 1). act locally” strategy. This will assist develop respect and a standing with customers and that will pay long-term payouts. Normally. Testing the preferred market is necessary too. how does the organization make the most of their newly desired market? The starting point is to manage the company. output is going to significantly increase! Strategies for achieving this aim can be deciding on a mode of entry first. the economies are still difficult. Price elasticity of demand is actually “responsiveness of the demand for a good or service to the increase or decrease in its price. When rates enhance. and Chief Operations Officer to notify them for logistical and risk problems? Queries such as these would assist to alleviate dangers and help in decision-making. and so on. Moreover. In fact. One more suggestion which is very popular is the “think globally. Therefore now there are sufficient chances. One more approach to think about is the price elasticity of demand.
an organization should be aware of its intended market hence pricing strategies can be precisely developed.” Consequently. but the earnings are higher as well! The global level offers more potential problems compared to domestic market due to different rules. and rules. As most find out. One more difference is risk is spread throughout an extensive market and economic issues in one region may not impede earnings. Be careful though. Having this type of competitive advantage internationally also lets various pricing in different markets. they continuously modify their services and cannibalize each other hence there is hardly any room for rivalry. customs. it can demand a different price in The United States than it does in China. Since HP has the scale of economy. Some of you might be thinking what makes competitive advantage exceptional at the international level and how does it vary from the local level. determining possibilities and working on them will maintain the company on the top of the market. I'M YOUR MOTIVATIONAL SPEAKER 6 is likely to increase too. tariffs. charges. you have to experience change. “to experience change. HP doesn't sell computer systems for the same rate all over the world. FedEx and UPS are perfect instances. Therefore. Coca-Cola attempted to introduce a new taste of Coke and didn't correctly research the market. This will develop a good reputation which will keep clients returning. Economies of scale and the experience curve are better at the global level. the organization should make modifications to the strategy when modifications in the market arise. Additionally. the dangers are greater at the global level. New Coke was unsuccessful. One more aspect to think about is that the organization should maintain its objective and stay different from all of the other items in the market. For instance. Additionally. This will cause the price elasticity to be more than one. to maintain competitive advantage. HP can maintain a competitive advantage since can cope with Chinese rivals within China and Canadian rivals within Canada. One more element to assist maintains an advantage is to encourage moral practices.HELLO. As the proverb says. . The final point to think about is that competitive advantage is easier to have than it is to keep.
some outstanding devices are offered. Don't hesitate to share queries and experiences since I love the opportunity to know from you! . I'M YOUR MOTIVATIONAL SPEAKER 7 To conclude. Many thanks for your time. take full advantage of information technology in the industry. Final.HELLO. investigate the market continuously and know about improvements in the industry the organization functions. stay away from getting pleased with the business as a collapse may come abruptly in case the organization is not focusing on market changes. I am aware how tough competitive advantage and its connection to local and global business can be tough. Additionally. I wish you could know from me today.
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