Internal Sources of Competitive Advantage

In: Business and Management

Submitted By lxi6666
Words 3322
Pages 14
1. Introduction 2
2. Strategies of Waitrose 3
3. Value Chain of Waitrose 3
4. SWOT analysis of Waitrose 10
5. Conclusion 12
6. Recommendation 13
7. Reference List 14

Internal sources of competitive advantage in Waitrose

1. Introduction:
Waitrose is a chain of up-supermarkets as grocery retailer in the United Kingdom. Waitrose was found by Wallace Waite, David Taylor, and Arthur Rose in 1904. In 1908, "Waitrose" as a grocery store name was formed. Waitrose including 10 grocery stores and 160 employees has been acquired by the John Lewis Partnership that is a famous UK retailer owned by its employees since 1937. (Oppapers, 25th April 2008) In 1955, the first Waitrose supermarket was set up. Now Waitrose is the sixth largest supermarket in UK that has 241 branches, 18,000 stock lines, and owns about 4.3% grocery market share in UK. Waitrose has a very good reputation and image because its products are quality, freshness, provenance, and safety, its good customer service, and good home delivery service that are the reasons why there are lots of loyal customers and new customers. (John Lewis Partnership, 2010)

Waitrose supermarket is a luxurious supermarket because it provides high quality, fresh goods, and good service to customers. There are many loyal employees working in Waitrose so that the staff turnover is low and all of employees work hard to satisfy their customers. It makes Waitrose become more successful. In addition to, Waitrose has many strong competitors that are including Tesco, ASDA, Sainsbury's, and Morrisons. The price of goods in Waitrose is…...

Similar Documents

Competitive Advantage

...Competitive Advantage Paper Name University of Phoenix MGT/498 Strategic Management Instructor Date Competitive Advantage Paper Riordan Manufacturing Incorporated engages in plastic injection molding with operations both in the United States and China. As an industry leader, Riordan is in the process of identifying strategic factors in the internal and external environment. The goal is to develop long-range plans to manage resources as well as the opportunities and threats present in the environment. Emerging markets of Asia, some in South America, and in Europe expects to bring in demand for more products. These markets deeply affected by lifestyle changes ushered in by the new age of multimedia, economic growth, industrialization, and growth of personal income will power the expected growth for plastics and other consumer products. Competitive Advantages and Strategies Riordan is a company with business across the globe. Similar to companies like McDonald’s and The Gap, Riordan receives a great deal of pressure to maintain technological perks to the customer, treat the employees well, and support efforts to enforce the protection of the environment. As a global company, special interest groups sometimes have a louder voice than the public; these groups will request, almost demand, the support of the business within the community. For Riordan to remain competitive the company has been very supportive of special interest groups to...

Words: 1318 - Pages: 6

Competitive Advantage

...Essay by Mashell Chapeyama University of the People Competitive advantages of Chipinge Banana Company A competitive advantage refers to any asset or capabilities that a company has that gives value to it or its products and services, which competitors do not have. Competitive advantage creates cost leadership to a firm or enables the firm to produce differentiated products. An example of a competitive advantage is being able to sell the products at low price but still be able to get some profits. This essay explores the competitive advantages which Chipinge Banana Company has. Chipinge Banana Company is a company that is found in Zimbabwe. The company produces bananas only. The bananas are sold to customers in the country and abroad. This company is located in the region where there is abundance of rainfall as well as good soils. One competitive advantage of Chipinge Banana Company is the natural resources it has. Firstly, the company is located in a region with a lot of rainfall. This enables the storage of water in some dams. Most parts of Zimbabwe have got very low rainfall. The land there is also very flat, unlike most parts of the country, where there is ample rainfall, which are mountainous. The flat terrain makes it possible for the use of modern technology in banana farming. At this company, there is usage of overhead cable tractors. This makes it easier and cheaper to harvest bananas. Therefore, the cost of production of bananas is very low, as compared to......

Words: 2034 - Pages: 9

Competitive Advantage

...Chapter 4 Building Competitive Advantage Page 57 4 Building Competitive Advantage Enterprise in Ireland over the next decade will operate in a global competitive environment that will be considerably more challenging than in the past. The strengths and experience that we have built up will continue to contribute to the success of enterprise, but companies in Ireland will have to differentiate themselves from their competitors in new ways in order to create sustainable competitive advantage. In the past, Ireland has set a standard for change and growth that is admired around the world and we can continue to do so. The biggest barrier to this is complacency: there is a real danger that enterprise in Ireland will be overtaken by more agile competitors in other countries. Overcoming this complacency and taking decisive action requires a renewed sense of national cohesion, with a commitment to execution throughout the entire enterprise community and the support systems. As outlined in Chapter 3, in the years ahead, our ability to build sustainable enterprise in Ireland will depend critically on a unique combination of: Knowledge of customers and market needs The ability to develop new products and services to satisfy those needs A world-class education and training system that is responsive and flexible and that supplies the skills required by the changing needs of enterprise A competitive taxation regime An effective, agile government system. The first two of......

Words: 11134 - Pages: 45

Competitive Advantage

...Competitive Advantage: Question 1/2: A competitive advantage is a position that a firm occupies in its competitive landscape. Cost advantage Cost advantage A firm possesses a sustainable competitive advantage when it has value-creating processes and positions that cannot be duplicated or imitated by others, that lead to the production of above normal rents, in that it provides a long-term advantage that is not easily replicated. Sources of competitive advantage: Competitive advantage Competitive advantage Similar products at lower price Differentiation advantage Differentiation advantage Price premium from unique products Competitors’ gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. Porter suggested four "generic" business strategies that could be adopted in order to gain competitive advantage. The strategies relate to the extent to which the scope of a business' activities are narrow versus broad and the extent to which a business seeks to differentiate its products. Question 3: The differentiation and cost leadership strategies seek competitive advantage in a broad range of market or industry segments. By contrast, the differentiation focus and cost focus strategies are adopted in a narrow market or industry. Cost leadership With this strategy, the objective is to become the lowest-cost producer in the industry. The traditional method......

Words: 1626 - Pages: 7

Competitive Advantages

...Competitive Advantages in Today’s Global Climate Ovelinda Garcia, Justin Hightower, Shyann Fontenot, Alex Jacobs MGT/498 July 14, 2013 Perry Martin Competitive Advantages In Today’s Global Climate Organizational sustainability and viability occur when a business strives to set itself apart from its competitors. Organizations that seek to become and maintain themselves as industries leaders typically thrive in the global marketplace. Industry dominance is dependent upon the development and implementation of corporate strategies. Organizations that continuously seek to examine their portfolios, improve operational activities, conduct research and development, and implement their strategic planning and strategies are innovated and profitable; both key characteristics in maintaining the competitive advantage within the global marketplace. Leading organizations analyze and predict the changing environment and situations in which they operate in and perform with the objective to maintain competitive advantage and sustainability. Riordan Manufacturing is poised to capitalize on establishing the organization as an industry leader in using polymer materials and providing solutions to its customer base. The global plastics manufacturing giant’s rigorous focus on R&D sets the company advantageously as a leader in identifying trends. Although the company’s initial focus was on...

Words: 1280 - Pages: 6

To What Extent Is Corporate Social Responsibility a Source of Competitive Advantage

...To what extent is corporate social responsibility a source of competitive advantage Suffering from air pollution and water contamination, citizens gradually demand businesses to take action on social responsibility. As a result, corporate social responsibility (CSR), which came into general use in the late 1960s and early 1970s (Harvard Kennedy School,2008), has become a vital portion in business model. There are a large number of definitions on corporate social responsibility. According to Harvard Kennedy School (2008), CSR is a procedure targeting at embrace responsibility for the company's actions and inspire a positive impact through its activities on the employees, environment, communities, consumers, as well as stakeholders. It seems that CSR is balance between positive social effect and business processes. With the development of CSR, more recent definitions focus mainly on the impact of how the companies manage their core business. In other words, the idea whether CSR serves as a resource of competitive advantage has emerged. In this essay, the author believes that the CSR indeed brings financial profits to the business and is overall beneficial to fashion business development. In the recent years, most high-street brands, such as Primark and Top Shop, including some luxury fashion brands, have worked on sustainability reports and corporate responsibility (CSR) for the sake of their long-term growth. This study will focus on the influence of CSR in......

Words: 2399 - Pages: 10

Competitive Advantage

...CONCEPT OF COMPETITIVE ADVANTAGE IS CENTRAL TO THE STUDY OF STRATEGIC MANAGEMENT, AND EXAMINE THE USE OF PORTER’S GENERIC STRATEGEIS BY COMPANIES TO COMPETE. KEY TERMS Competitive advantage. This is the favourable position an organization seeks in order to be more profitable than its competitors. Strategic management. It is the systematic analysis of the factors associated with customers and competitors (the external environment) and the organization itself (the internal environment) to provide the basis for maintaining optimum management practices. The objective of strategic management is to achieve better alignment of corporate policies and strategic priorities. Porter’s generic strategies. These are three general types of strategies developed by Michael Porter that are commonly used by businesses to achieve and maintain competitive advantage. Company. It is a voluntary association formed and organized to carry on a business. Types of companies include sole proprietorship, partnership, limited liability, corporation, and public limited company. INTRODUCTION The concept of competitive advantage is central to the study of strategic management, since a company or an organization must follow an aligned strategy to outperform their rivals in the industry. Michael Porter introduces three generic strategies that a firm may apply in order to do so they include; overall cost leadership, Differentiation and Focus. In order to create and sustain competitive advantage,......

Words: 3350 - Pages: 14

Competitive Advantage

...Darlene Ulmer Greta Miquelena 05 March 2014 Competitive advantage is a very important concept that seems very simple but it can bring lots of profitable benefits to a company. Competitive advantage means to have some sort of advantage over the industry competitors; in other words, when a company is able to create an innovative product that the competitors cannot imitate. For example, iPad tables are a hot item in the market and everyone from any age wants this item; therefore, it has been proven to have competitive advantage over any other table in the market. Now days all the companies are very competitive and only a few are able to succeed. Therefore, companies must use all the sources available to maintain the customers within the company. Brand names and costs switching are sources of competitive advantage; nonetheless, a brand name is not just created overnight. It takes dedication, consistency and interpersonal skills to create customer inertia. At the end of the day, if I get personalized treatment and every time I go to that store I get the same service, my expectations start to increase. Therefore, I would start spreading the world about my fascinating experience with families and friends. It is important to have more than one source of competitive advantage because this provides the company market share stability and profitability. The pharmaceutical industry has three major sources of competitive advantage, customer satisfaction, complaint resolution and...

Words: 459 - Pages: 2

Competitive Advantages

... Competitive Advantages Paper Christopher Crehan, Sarah Franzen, Nicole Hadad, Kimberly Scott, and Leeza Steindorf MGT/ 498 April 26, 2014 Cheryl Boehm Competitive Advantages Paper Among large corporations there are many similar competitive advantages and they often share the same thought process on which competitive strategies will best result in long-term organizational performance. With that being said, this paper will discuss Riordan’s competitive advantages in association to some other major corporations, the competitive strategies that may help to increase the innovation and sustainability of their operations, how these strategies will affect the long-term performance of the business, and what global consideration should be taken into account for their business strategy. Coca Cola, Starbucks and Riordian have a number of competitive advantages in common, with the most significant as market leaders, having a strong brand, having a focus on corporate climate, and focusing on a product or product group. Other areas of strengths are being leaders in their field: Coca Cola as a giant in the beverage industry, Starbucks masters the art of producing, brewing, and serving high quality coffee in an upscale environment, and Riordian dominates in the plastics industry by using plastic injection molding for their containers, producing medical equipment parts, and the various fans and parts they produce. Another competitive advantage that these companies possess is......

Words: 902 - Pages: 4

Competitive Advantages

...Competitive Advantages Trisha Sadler, Darryl Warren, Josephine Ives, Rebecca Smith, Beth Sexton MGT/498 May 19, 2014 Rolando Espiritu Competitive Advantages Competitive Advantages - Riordan Riordan is a plastic manufacturing company, which was started in 1991 (University of Phoenix [UOP], 2013). The company has locations in California, Michigan, Georgia, and China. The company’s business units are plastic parts manufacturing, plastic beverage containers, and the plastic fan facility. Riordan’s customers consist of beverage makers, medical supply firms, electronic supply firms, and pharmaceutical companies (UOP, 2013). A competitive advantage allows companies to increase sales, resources, and market share. Team B’s analysis will provide insight on Riordan’s competitive advantages by identifying competitive strategies, competitive sustainability, and the effect of the global market changes to the company’s business strategy. Riordan’s Competitive Advantages Every organization must establish some type of competitive advantage. The recent research of FedEx, Southwest, and McCain Foods’ competitive advantages assists in identifying Riordan’s competitive advantage. The first step in competitive advantage is creating a mission statement and developing a strategic plan. Firms that operate with a strategic plan develop focus and alignment. Introducing unique products or services leads to the establishment of a competitive advantage. In the case of FedEx, the core service...

Words: 1108 - Pages: 5

Competitive Advantage

...Competitive Advantage Marina Castaneda, Lynn Clark, Tyler Anderson, & Linda Young MGT 498 Paul Kramer Competitive advantage in business is something all organizations use as a concept to allow an organization to outperform its competitors. For an organization, there can be many types of competitive advantages. This includes cost structure, product offerings, distribution network, and customer support. We will compare different companies to Riordan Manufacturing and explain which competitive advantages they might have in common and also what competitive advantages Riordan can use to improve innovation and sustainability of business operations in the United States and in the Global Market. Riordans Competitive Strategies Riordan use similar tracking systems as the other companies that were evaluated in week three. They track their sales as do the other companies. They also track trends and utilize customer feedback and information in order to strategically plan for emerging trends in the market. These strategies have allowed them to meet customer demands and the strategies used to do this are similar to Apple, Google, McDonalds, and Starbucks. The information and technology used by these companies have allowed for them to better plan and have allowed for better marketing to customers. Market research is another strategy that is used in determining. These companies have all used market research and a trend to ensure that they are offering......

Words: 562 - Pages: 3

Advantages and Disadvantages of the Sources of Internal Data

...CHAPTER 4 EXPLORATORY RESEARCH DESIGN: SECONDARY DATA Opening Questions 1. Why are secondary data important? How do we distinguish secondary data from primary data? 2. What are the advantages and disadvantages of secondary data? 3. How should secondary data be evaluated to determine their usefulness? 4. What are the different sources of secondary data, including internal sources and external sources? 5. What is database marketing? How does it make use of secondary data? 6. How can published secondary data be classified? 7. How can computerized databases be classified? 8. How do we identify and classify the sources of secondary data useful in international marketing research? 9. How can technology and what ethical issues are involved in the use of secondary data? AUTHOR'S NOTES: CHAPTER FOCUS This chapter provides an overview of secondary data. Secondary data are defined and their advantages, disadvantages, and evaluations discussed. A classification of secondary data is presented. Internal sources, published external sources, and computerized databases are discussed. Applications of secondary data in the context of a buying power index and computer mapping are provided. The several classifications of secondary data, presented in Figures 4.3 through 4.6, are unique to this book. In addition, a focus on international marketing research, technology, and ethics is placed at the end of this chapter. This chapter could be taught by focusing...

Words: 4683 - Pages: 19

Competitive Advantage

...WEMC FS#5-08 Strategies for Competitive Advantage Cole Ehmke, M.S. Extension Educator, Department of Agricultural and Applied Economics University of Wyoming Overview A competitive advantage is an advantage gained over competitors by offering customers greater value, either through lower prices or by providing additional benefits and service that justify similar, or possibly higher, prices. For growers and producers involved in niche marketing, finding and nurturing a competitive advantage can mean increased profit and a venture that is sustainable and successful over the long term. This fact sheet looks at what defines competitive advantage and discusses strategies to consider when building a competitive advantage, as well as ways to assess the competitive advantage of a venture. The Essence of Competitive Advantage To begin, it may be helpful to take a more in-depth look at what it means to have a competitive advantage: an edge over the competition. Essentially a competitive advantage answers the question, “Why should the customer purchase from this operation rather than the competition?” For some ventures, particularly those in markets where the products or services are less differentiated, answering this question can be difficult. A key point to understand is that a venture that has customers has customers for a reason. Successfully growing a business is often dependent upon a strong competitive edge that gradually builds a core of loyal customers, which can be expanded...

Words: 3442 - Pages: 14

Competitive Advantage

...Competitive Advantage Introduction Why do you buy a cup of coffee in Starbucks? Why will you choose KFC for your lunch rather than other brands? The answer lies on the term competitive advantage. It becomes the main reason to build brand loyalty for customers. (Boundless 2015) Nowadays, most firms both in local and global markets all face a challenge for a marketing strategy is to find a way of achieving and sustain a competitive advantage compared with the other products and companies. The basic condition of competition has changed a lot and the speed of this tendency is increasing. And with the change of competitive environment, traditional competitive such as economical scale or advertisement expenditure cannot be such effectively as past time. What’s more, traditional management ideas are unlikely to lead a firm competing with other companies. Therefore, managers need to build a new managerial mind-set about competitive advantage. (Barney&Mackey 2005) This article will introduce the definition of competitive advantage in a market and emphasis the importance of it. It will also be presented two main strategies including cost strategy and differential strategy. And then some issues will be stated that organizations facing in trying to gain and maintain competitive advantage. Then it gives some reasons that why competitive advantage is still a significative concept at present. Body Definition of Competitive Advantage A competitive advantage means one firm has...

Words: 2158 - Pages: 9

Competitive Advantage

...Explanation of competitive advantages- Medtronic has announced the start of a clinical trial to confirm the safety and efficacy of its EnRhythm MRI SureScan pacing system, the first MR-safe pacemaker system. The first implant in the US clinical trial was performed by Brian Ramza, M.D., Ph.D., director of Electrophysiology Laboratory Services at the Mid America Heart Institute, Saint Luke’s Hospital, Kansas City, Mo.( While Philips Medical System is known for equipping parts for pacemakers and defibulators Medtronic is in its testing phase for the MRI scanning machines. This machine has a way of eliminating the worry of having replacement parts for several years down the line. With the Permanent, Temporary, Artificial or the Epicardial pacemakers the Medtronic is the first of its kind to begin research on its product. Features- The Medtronic Care Link® Network is a prescription device indicated for use in the transfer of patient data from some Medtronic implantable cardiac devices based on physician instructions and as described in the product manual. This product is not a substitute for appropriate medical attention in the event of an emergency and should only be used as directed by a physician. ( Benefits- The benefits will be for the patient to spend less time in the hospitals operating room and less doctor visits. According to the clinic, patients have especially appreciated the ease-of-use and convenience of the portable Medtronic......

Words: 441 - Pages: 2