Healthy Competition and strategies
Competition and strategy…the concepts truly go together as without strategy; you simply couldn’t compete. This week you will learn about the benefits of both strategy and competition. You will also consider what it takes to apply these strategies in real-world scenarios.
Competition and strategy are constantly evolving the new ideas and continued growth. Companies continue to soar while others are filing bankruptcy. Think about the companies that you have shopped at over the past decade. Are these the same stores? Have you found your shopping habits have changed?
These concepts all play a role in competition and strategy. People evolve, time changes, interests vary. With this, companies are forced to change to meet the needs to their customers. Strategies are necessary to stay ahead of the competition. By failing to compete, companies find their doors shuttered or websites disappearing.
Competition and strategy is not always just between companies for business, but for employees as well. Companies are forced to research what others are doing to keep their employee’s happy so that they can avoid turnover.
Please review your materials for this week below.
- Forbes.com (2019). Seven Strategies to Get Your Business Noticed in A Saturated Market.
- Goldman, D. (2019). The strategy behind McDonald’s latest breakfast creation
- Konish, L. (2019). MBA students face off in challenge to create the next best impact investing idea.
- McCann, K. (2018). Three-In-A-Box People Strategies That Win
- PR Newswire (2019). New Mavenlink Study Finds Business, Competition, and Customer Expectations Rising Significantly for Services Firms.
A little healthy competition is good for an organization, however, from time-to-time, it can lead to failure. Using what you have learned this week, choose two organizations that you feel are in solid competition with one another and discuss why you feel these organizations are good competitors.
Your work should include the following:
- Outline the competitive points of the organization.
- Develop a diagram that compares the two organizations.
- Your diagram should be creative and should be thorough in documenting the competition.
- Summarize which company you feel has the stronger outlook.
- Your paper must be a minimum of 3 written pages (not including the title and reference pages).
- Your work must include a minimum of 3 scholarly resources to support your thoughts.
- No plagiarism
- APA citing