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How can an organization effectively assess and enhance its strategic capability to gain a competitive advantage in the market?
Step by step
Solved in 4 steps
- How can an organization assess and develop its strategic capability to effectively compete in a dynamic and constantly changing business environment?describe how the company can build on its strengths and correct its weaknesses in order to take advantage of one opportunity in the market.Market Structures: Why is it necessary for business firms to have knowledge on the Market Structures? In what ways will this knowledge be of help to business firms? Why is it advantageous to business firms?
- What strategies should businesses employ to align their sales and marketing teams, ensuring they work together seamlessly to achieve common goals and drive revenue growth?Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?Please provide an example of how a company’s marketing organization can ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?
- How can a company adapt its business processes to changing market conditions and customer needs?Why are some organizations facing difficulties to sustain competitive advantage?What characteristics help companies gain competitive advantage in the marketplace?Does every company acquire a competitive advantage?
- Discuss the role of customer feedback and market research in refining and adapting a business model to changing market conditions.What is the role of competitive analysis in marketing, and how can companies gain a competitive advantage through effective analysis?Critically evaluate the importance of monitoring the external business environment and how your chosen organization manages the gap between the demands of the market and its ability to respond to the changes in the marketing environment.