Competitive Strategies

Question: Discuss about theCompetitive Strategies. Answer: Strategy Strategies are defined to have different meaning for different firms and it becomes very crucial to understand the authentic significance of the word strategy. There are different firms for which the strategy is mere to available the products at a lower cost than to the customers as compared with the other competitors, but there are some other companies for whom the strategies are mainly a defined set of the provincial acquisition in order to provide unmatched customer service to the respective companies (Alred, Brusaw, and Oliu, 2012). It is evident to know that these particular points are not supposed to be the defined strategies but these are tactics, descriptions as well as the goals of the concerned firm in order to increase the selling of their respective products. The word strategy has originated from the greek word, STRATETOS which signifies art of the general. As per the art of the war of SUNTZU, losing is supposed to be bad whereas winning is supposed to be good. The evalua tion and formation of the good and perfect strategies reflect concise and clear facts or ideas for a particular set of questions (Dekker, 2013). The differentiation among the same types of the products available within the concerned market segments is crucial and this can be done with the help of effective strategies. While developing effective as well as effectual strategies for a particular organization, there are some of the crucial factors which need to be considered they are reliability, sensation and clients satisfaction. The branding is crucial as it generates enormous impact on the clients regarding the purchasing of the products as well as the services offered by the firm. The branding of a particular corporation helps in the development of the trust among the firm and the clients and this is supposed to be of great importance in order to increase the selling of the respective services and products offered by the firm. The application of an organization following effective strategies will help in understanding the concept in a better way. IKEA is one of the well-known firms, selling low-cost contemporary styles of the different furniture's mainly for furnishing the home. The company follows basic strategies as to sell all its furniture's in those showrooms where the primary motive is to fulfill a number of orders place and thus, it sells the furniture in the low-cost showrooms (Friedmann, 2011). Moreover, the company also looks forward to maintaining the desired quality of the furniture's is to establish its pillars within the competitive market segments. The company is using much more enhanced techniques in order to develop the Scandinavian design as to attract large numbers of the customers by fulfilling their demands. It needs to be clarified that the strategies are not merely the descriptions of a products or tactics to sell the product but it is the desired plan which will help in enhancing the growth of the firm and will help to increase the productivity as well as profitability for the corporation concerned. Th ere are complexities in the designing and it is not offering products as of the best quality so these needs to be worked on and these can be considered s a part of the strategies (Hooley, Piercy, and Nicoulaud, 2012). Henry Mintzberg evaluates the differences among the intended strategy, emergence strategy, and realized strategy. This is crucial for the progress and development of a firm within the concerned competitive market segments. Business Model Innovation There are many well-known researchers who evaluate the fact that today's success becomes an enemy for tomorrow's success because of various factors (Ingenious latest model, 2011). Innovation in any type of business facilitates the significant and efficient growth of the firm with greater profitability. One of the crucial benefits of innovation is that it helps in increasing the preferred demands of the valued products in front of the customers on the larger scale. Another important point is that innovation helps in lowering the cost of services along with the products and help in getting the desired competitive advantage over the other competitors within the market segments. The concept of innovation evaluates three of most important facts such as nobody must think that they founded the idea for innovation of products, bigger resources are required for bigger success and innovation breaks the preferred technologies. There are certain examples such s Amazon did not discover the online bookstore, IBM did not create personal computers and 3D technology has not been founded by APPLE. The pioneers get eaten by the wolf present within the business market segments whereas the successful innovators by the recombination in order to augment their business course (Jones, 2011). The development of the business model reflects four crucial questions such as selecting the clients, offers provided top the clients, creating the value propositions and generating the preferred revenue for the firm. Four of the most significant procedure such as beginning, ideation, combination as well as the implementation of the preferred idea is measured to be vital for a winning business. There are several companies which have successfully used the desired concepts of business model innovation to enhance their business processes effectively. APPLE is one of the leading firms in the IT field which perceives the higher range of values for all its customers. DELL is another company which reduces its desired cost of the products and the desired working capital via the built order methods. Another Company is the IKEA which has significantly used the idea of business model innovation in order to enhance the attractiveness of all its furnitures and products (Lee, 2010). It has become very crucial to understand the desired needs of the targeted audiences as per the changing trends throughout the market segments as this will boost the growth and expansion of the corporation concerned. The redefining of the business model innovation is done by ten percent of the company whereas ninety percent of the firms adopted it. Gillette has significantly used this replica to increase the price tag of the blade. References Alred, G., Brusaw, C. and Oliu, W. (2012).The business writer's handbook. Boston: Bedford/St. Martins. Dekker, E. (2013).World of Warcraft gold strategy guide. Birmingham: Packt Pub. Friedmann, O. (2011). An Exponential Lower Bound for the Latest Deterministic Strategy Iteration Algorithms.Logical Methods in Computer Science, 7(3). Hooley, G., Piercy, N. and Nicoulaud, B. (2012).Marketing strategy competitive positioning. Harlow, England: Pearson Financial Times/Prentice Hall. Ingenious latest model. (2011).BDJ, 210(11), pp.545-545. Jones, P. (2011).Strategy mapping for learning organizations. Farnham, Surrey: Gower Pub. Lee, G. (2010).Business process management of Japanese and Korean companies. New Jersey: World Scientific.