The Competition: Maintaining Advantage
Maintaining competitive advantage in today's ever-changing business environment is not a simple task. For any company to maintain a competitive advantage, the company must develop the advantage such that it is "rare, costly to imitate, no substitutable, and nontransferable" (Snyman, J.H., 2006). Along these lines, Michael Porter has provided five competitive forces that can assist any company in maintaining the advantage. These forces are "the entry of new competitors, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and the rivalry among existing competitors' " (Pfeffer, J., 2005). Three methods for maintaining competitive advantage that will address these forces are effective strategic management, the effective management of people, and the effective management of research and development.
Dr. Johannes Snyman conducted a study of the trucking industry within the United States. Dr. Snyman......
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Approximate Word Count: 1234
Approximate Pages: 5 (260 words per double-spaced page) |