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business performance and strategy

2020-02-04 来源: 51Due教员组 类别: Paper范文

今天带来这篇范文是讲解企业可持续竞争优势是指企业向消费者提供某种价值高于竞争对手的产品或服务,并在一定时间内创造超额利润的属性或能力(Hofer & Schendel, 1978)。

The enterprise sustainable competitive advantage refers to its attribute or ability that an enterprise offers the products or services with some kind of value to consumers beyond its competitors and can create excess profits in a certain period of time (Hofer & Schendel, 1978). Therefore, how to create and maintain competitive advantage in a turbulent environment has always been an important issue for strategic management. Decided the main factors of enterprise sustainable competitive advantages are: the industry environment of enterprises, have strategic resources, enterprise core competencies, strategic ability, entrepreneur ability and the enterprise culture.

Enterprises can develop the sustainable competitive advantage through many aspects and points. To name some, a company can build the cost advantage, that is, to produce the same product and provide the same service, but the cost is lower than that of the competitors. In addition, the enterprise can achieve sustainable competitive advantage by building product advantages, namely product differentiation advantages. Also, the company can consider building a brand. In the case of identical technical performance, consumers are willing to pay more for the brand.
In “Transient Advantage”, McGrath pointed out that because of technological reform, globalization, lower barriers to entry and other factors, the sustainable business competition has disappeared, while the transient competition is the new norm in the market. I very much agree with the view of transient competition. In my view, there is no longer the sustainable competitive advantage between enterprises, and companies need to respond quickly to obtain the transient competitive advantage in order to maintain the market's leading position.
There are many cases of market failure due to the un-acknowledgement of the transient advantages and slow respond. One of them is Polaroid. Once Polaroid was leading the market because of its popular products and Polaroid optimistic. However, it collapsed in people's sighs. The reason is that real-time imaging, after all, was a very limited market, and photographic technology was changing with each passing day, but Polaroid did not find its short-term competitive advantage and did not keep pace with technological innovation (Mahiuddin & Qin, 2013). Therefore, in the era of "one-hour photofinishing room" in the 1980s and the "digital revolution" in the late 1990s, despite the introduction of some digital products, Polaroid failed to find its competitive edge in the current stage and fell far behind the competitors. Polaroid’s unscrupulous progress made it impossible to find the temporary characteristics of competitive advantage and take action to gradually away from the highly competitive market, thus leading to the decline of enterprises.
Another typical case is Kodak's bankruptcy. While Kodak dominated the market, Japan's Fujifilm boldly anticipates the rise of the digital age in the future and set out a new strategy: extract as much money as possible from the film business to prepare for the transition to the digital age and develop new Business. At this time, Kodak did not start the digital camera business for the first time. And then the popularity of digital cameras came and negatively affected Kodak business, making Kodak digital cameras no competitive advantage. Kodak believed that it had a sustainable competitive advantage and could not find the transient characteristics of competitive advantage. When the crisis was already clear, it was still confident in its own marketing and brand strength. However, it eventually failed and went into bankruptcy (Gassmann & Csik, 2014).
The loss of sustainable advantage and unknown of transient advantage, for any business, is a disaster, even to a former market leader. P & G used to be the myth of the Chinese market. It all fully demonstrated the world-class enterprise's excellent management level, and is the classic case that all Chinese colleagues repeatedly try to figure out. Now, P & G has inevitably embarked on the road to decline. The marketing approach of P&G once was through national advertising and national channels, thus contacting with consumers across the country. Consumers did not need other options. In a sense, companies such as P & G and Ford played a historic role in the progress of human society. They allocated social resources with the highest efficiency and maximized the benefits to society. However, with the Internet, everything is different. Now is the time from the industrial age to the information age, and further to the data era. That is, the market competition is Internet-based. Any small but beautiful brand can reach out to its own audience through internet channels and have its own market. People have unlimited of the choice, thus making P & G's competitive edge constantly weak and short-term. However, it did not make any preparation for the transient advantages and did not respond quickly (Zhou, 2017). Thus, its failure is inevitable.
With the progress of science and technology and globalization, the sustainable competitive advantage is getting harder and harder to obtain. Instead, it is a transient competitive advantage. McGrath proposed that enterprises can also take a leading position in the market by continuously gaining a transient competitive advantage. The fierce competition in the market has already caused many enterprises that have not yet seen the transient advantages to fall down. The future, enterprises should pay more attention to the development of transient advantages. Combined with market conditions, the companies can make full use of transient advantages to gain market advantage and achieve the market goal.



Reference:
Eric Zhou, (2017). Lessons from the sales decline of Procter &Gamble in the China Market. Retrieved on January 11, 2018, from:
https://www.linkedin.com/pulse/lessons-from-sales-decline-procter-gamble- china-market-eric-zhou-周武
Gassmann, O., Frankenberger, K., & Csik, M. (2014). Revolutionizing the business model. In Management of the fuzzy front end of innovation (pp. 89-97). Springer International Publishing.
Hofer, C. W., & Schendel, D. (1978). Strategy formulation: Analytical concepts. West Publ.

Mahiuddin, F., & Qin, X. I. A. O. C. H. E. N. (2013). IRRATIONALITY: SOURCE OF SUSTAINABLE COMPETITIVE ADVANTAGE?. European Journal of.

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