Jose J.

Solivan M00277003

BADM 6500 Assignment u_05

What strategies would you advise your company or the institution or organization where you
work, to pursue to increase its competitive advantage?

Competitive advantage refers to factors that allow a company to produce goods or services better
or more cheaply than its rivals. These factors allow the productive entity to generate more sales
or superior margins compared to its market rivals.

To increase competitive advantage

Creating a culture that attracts the best talent in the market.

One of the strategies to increase competitiveness in my organization is the creation of a culture

that attracts the best talent in the market. In modern organizations, it is essential to find the best
employees. This can be done by creating a culture where employees are free to express their
ideas on development. Indeed, customers want to buy from companies that highly values
employees and their needs.

Understanding the organization's consumers

All consumers in the market are not the same. Companies need to find their target audience and
find the right measures to target them. After understanding the nature of consumers, the
organization can make products to customer's satisfaction.

Understanding strengths of the company.

Any business has strengths and weakness that give them a share in the market. Some strengths
any include modern technology and talented employee. To have a competitive advantage, the
company must focus on using their best employees in different sectors. Furthermore, the
strengths promote new and innovative ways of conducting business.
Step-by-step explanation
Creating a culture that attracts the best talent in the market.

One of the strategies to increase competitiveness in my organization is the creation of a culture

that attracts the best talent in the market. In modern organizations, it is essential to find the best
employees. This can be done by creating a culture where employees are free to express their
ideas on development. Indeed, customers want to buy from companies that highly values
employees and their needs.

Understanding the organization's consumers

All consumers in the market are not the same. Companies need to find their target audience and
find the right measures to target them. After understanding the nature of consumers, the
organization can make products to customer's satisfaction.

Understanding strengths of the company.

Any business has strengths and weakness that give them a share in the market. Some strengths
any include modern technology and talented employee. To have a competitive advantage, the
company must focus on using their best employees in different sectors. Furthermore, the
strengths promote new and innovative ways of conducting business.

Reference
Hill, C.W.L., Jones, G.R. &, Schilling, M. A. (2014). Strategic Management: Theory: An
Integrated Approach (11th. Ed.)
Wang, W. C., Lin, C. H., & Chu, Y. C. (2011). Types of competitive advantage and analysis.
International Journal of Business and Management, 6(5), 100.

Cremades, A. (2018, September 19). How to develop your competitive advantage. Forbes.
Retrieved April 2, 2022, from https://www.forbes.com/sites/alejandrocremades/2018/09/19/how-
to-develop-your-competitive-advantage/?sh=14ff14602104