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Comp Advantage

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Submitted By Tiffin15
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Competitive advantage is achieved when a business or organization has achieved a position where a profit margin and market share exceeds that of other organizations in a competitive group. Porter (1998) views this from two distinct positions:

Cost Leadership/Advantage: The strategic management of cost in the “value chain” in order to produce a product that has cheaper cost to the client but maintains the same value perspective as similar products produced by competitors. Porter uses the term “value chain” to determine that cost is addressed in all functions and processes not just those incurred during the manufacturing process. Cost efficiency regimes are difficult to copy and reproduce by competitors so when managed correctly cost advantage will deliver a product with greater value to the customer than the competition can achieve.

Differentiation: Differentiation strategy strives to identify a unique product or service that will meet the requirements of a niche or narrow tranche of the market. The product may target a clientele that favours the latest technology or demands only the highest quality goods. Differentiation can also be achieved through service delivery, Dell computers initially sold their products through E Markets offering the customer the option of purchasing computers made to their own specific specifications. Dells Differentiation strategy saw them dominate this market, their future foray into off the shelf sales was less successful as competitive advantage was lost with the change of strategy. (Slack & Lewis, 2011, pp. 238-239 & 289 – 290).

Achieving and maintaining competitive advantage is essential or at least highly desirable to all for profit organizations, obviously not every will achieve this aim in fact only a small minority will reach this point. The vast majority of companies will operate between survival and market…...

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