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Defining your competitive advantages

  • 09/09/2019

    Defining your competitive advantages

    Change is everywhere!

    We’re in Bahrain facing very complex environmental conditions politically and economically! Companies looking for opportunities for survival! Business leaders, CEOs and executives are in front of the bomb that would crash everyone! “Regardless of his status”!

    Every body would have to focus on the solution rather than the problem

    So, what’s the solution?!

    Resources are the assets, capabilities, processes, information, and knowledge that an organization controls. Firms use their resources to improve organizational effectiveness and efficiency. Resources are critical to organizational strategy because they can help companies create and sustain an advantage over competitors

    Organizations can achieve a competitive advantage by using their resources to provide greater value for customers than competitors can.

    For example, iTunes and iPod created competitive advantage for Apple and value for its customers by combining elements of design, price, and capability in a unique way.

    But the most important advantage was being the first company to make it easy to legally download music to digital devices!

    (Prior to the iTunes store, the only means of acquiring digital music was illegal file swapping.) Apple negotiated agreements with virtually all of the major record labels to distribute their songs from a central online library, and iTunes quickly became the premier platform for music downloading.

    The easy-to-understand site came with free downloadable software customers could use to organize and manage their digital music library.

    Now, Can we discuss how would you define, design and build your own business Competitive Advantage(s)!

    Ring us to set up a meeting and discuss the subject and to find out how SMOHFI Advisors can help you to create you action plan! Contact us

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