apa, no title page, one scholarly reference.
What do you find to be the most important elements to improve an organizationâ€™s competitive advantage?
Respond to this:
According to Amadeo (2019), competitive advantage is “what makes an entity’s goods or services superior to all of a customer’s other choices”. Competitive advantage is the ability of the firm to increase its values and its shareholders. It is the important aspect of business that allows an organization to outperform to gain advantage over the competitors. This can be gained by offering greater value to the customers compared to its competitors. To improve an organization’s competitive advantage, the following are key elements:
1.) Improving the product line: offer a variety of products with different features. Customers look into products that features that fit their needs. These are the benefits that they make them to purchase the products.
2.) Cost reduction: businesses need to consider manufacturing process to reduce unnecessary costs to reduce overall cost.
3.) Employee management: helping employees with efficient and effective trainings as well as creating a family-like working culture with the business can maximize the productivity of all people. In addition, if employees are happy with the company, they will treat customers well and doing the best they can do.
4.) Customer management: customers appreciate when a business cares about their needs and concerns. Giving simple phone calls to check up on them can make them feel valued. Also, providing services without delays can help customers appreciate the caring from the business.
Amadeo, K. (2019). What is Competitive Advantage? Three Strategies That Work. Retrieved January 9, 2020 from