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Discussion on Business Organization - Essay Example

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This market leadership may relate to pricing innovation, product innovation, new forms of promotion, development of new market segments, or initiating a new trend in the market. Quite often such market leaders may not be large organizations, but more innovative smaller organizations, like Dyson in vacuum cleaners; or organizations with better expertise, like specialized accounting firms or those with more talent and competencies, like Stella McCartney in fashion designing. Simon, 2009, p.29, terms such smaller organizations as “hidden champions”. These “hidden champions”, reframe the definition of market leadership to “market leadership not only in terms of market share, but see it as an extended claim to overall leadership in their markets” (Simon, 2009, p.29). Table – 1 below gives the advantages and disadvantages of market leadership. ...
Compounding the contribution of these factors to problems in identifying market leadership is the issue that some organizations, do not concentrate on achieving leadership by merely market share. They may to look to acquiring leadership in other aspects, like asset leadership, which gives them a boost towards taking over market leadership. Asset concentration may be in terms of competencies of the employees, or superior equipment or strength in distribution channels. Identifying market leadership thus becomes a more difficult endeavour (Pickton & Masterson, 2010, p.40). Following in the path laid out by a market leader are the organizations that may be called market followers. Market followers identify and keep a track of the successful ideas and strategies employed by market leaders. This does not imply that they follow a me-too product design and promotion strategy. Rather, the strategy employed is to allow the market leader to employ resources in testing their innovative ideas and strategies, and then cash in by employing the successful innovative ideas and strategies themselves. This can be seen from the example of the competitors of McDonald’s in the 1990’s waiting for McDonald to identify locations for its outlets, using its resources, before moving into the location as a competitor. It is these market followers that need to identify the market leaders, so as to copy their successful innovative ideas and strategies (Pickton & Masterson, 2010, p.39). 2. The EC Unfair Commercial Practices Directive and the German Act against Unfair competition define unfair competition as “unfair commercial practices that are likely to distort the economic behaviour of consumers” (De ...Show more
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Mk2053 1. Business organization may be differentiated into market leaders and market followers. In the opinion of Pickton and Masterson, 2010, p.38, “strictly, the market leader is the business organization that sells the most”. However, in using such a simplistic description of market leaders care has to be taken, for there may be differences in relation to different markets…
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