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how market commonality and resource similarity impact Apple’s competitive standing in terms of its main rivals.
Resources are what make a business run, and allocating organizational resources for business should be done carefully in a competitive environment. [ [ Allocating these resources can be tough, but a business can acquire the resources they need appropriately through careful practice. Some examples of organizational resources are technology, people, and finances. All of these organizational
resources are crucial to the success and growth of a business. Technology is a valuable organizational resource that can come in the form of equipment, programs, and devices. Technology is a resource that will help increase value and productivity of a business if acquired appropriately. People are always a valuable organizational resource, and hard working and knowledgeable employees are a resource that should never be overlooked. Knowledgeable people can make the difference between success and failure, and they must be allocated in a competitive business environment. Finance is another organizational resource that can come from investors, stakeholders, and the business itself. Finance is hard to allocate during a rough economical time, and companies must promise be able to promise value in order to acquire financial resources in business. Organizations should allocate scarce resources in a competitive environment very carefully. Organizations should not waste finances on technology without thinking about the future first because technology is always changing. This organizational resource is something that will be a long term investment and proper researching beforehand will save a lot of time and money in the future. ] ]
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Asked 11/3/2012 4:33:15 PM
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How can Family Dollar stores modify its business level strategy to increase customer satisfaction
Weegy: Family Dollar recognizes its business level-strategy so that they can take actions to gain a competitive advantage against its opposition. [ There are five different types of business-level strategies a company must choose from, when establishing a strategic position against competition. These strategies include: cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation. "Each business-level strategy helps the firm to establish and exploit a competitive advantage within a particular competitive scope (Hitt, 2003, p.113)." Family Dollar is implementing a focused low cost businesslevel strategy in order to defend against their numerous competitions. In selecting a business-level strategy, the firm determines (1) who will be served, (2) what needs those target customers have, that it will satisfy, and (3) how those needs will be satisfied (Hitt, 112). When answering who, a company should focus on the customer. Customers are the foundation of successful business-level strategy and should never be taken for granted (Hitt, 2003 p.105)." Family Dollar targets low-income and frugal customers who value low cost items. Some of the needs that these customers have are affordable prices and access to the stores if they dont have adequate transportation. These needs are satisfied by Family Dollars plan to provide convenient locations and offering big brands at low prices. By answering who, what, and how related to the customer, Family Dollar was able to formulate a business-level strategy, aiding in the creation of a competitive advantage. Competitor Analysis "A strategic group is a set of firms emphasizing similar strategic dimensions to use a similar strategy (Hitt et., 2005, page 61)". Competition between firms in the same strategic group is greater than competition between companies in different strategic groups. The reason for this is that the companies in the same strategic group are competing ... (More)
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Asked 11/2/2012 9:37:48 PM
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