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Review of Articles: Investigating Advantage Using Porter's Five Forces Model
Pages 5 (1255 words)
Review of Articles: Investigating Competitive Advantage Using Porter’s Five Forces Model [Student Name] [Instructor Name] [Course Title] [Date] Review of Articles: Investigating Competitive Advantage Using Porter’s Five Forces Model Introduction Competitive Advantage can be simply defined as an upper hand that companies have over their rivals.
There are various ways or strategies in which a company can achieve competitive advantage such as cutting costs to bring prices down, variety of products offered, or the effectiveness of the distribution chain and consumer service, especially in the service industry. However, it is important for organizations to understand the strengths and opportunities the competitive edge brings with it in order to benefit from the situation. Therefore, they need to position their businesses appropriately and be able to sustain the competitive advantage they have achieved. As other companies constantly strive to become the market leader, they are adopting various competitive advantage strategies that enable them to either, take advantage of their business environment resources or counteract the other firm’s competitive advantage through differentiation and innovation Porter’s Five Forces Competitive Model In recent times, various theories have emerged providing organizations systems and techniques for achieving Competitive Advantage in the contemporary economic environment. ...
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