Discussion Post: Competition and Strategy
Competition and strategy...the concepts truly go together as without strategy; you simply couldn't compete. You will learn about the benefits of both strategy and competition. You will also consider what it takes to apply these strategies in real-world scenarios.
Competition and strategy are constantly evolving the new ideas and continued growth.
Companies continue to soar while others are filing bankruptcy. Think about the companies that you have shopped at over the past decade. Are these the same stores? Have you found your shopping habits have changed?
Do you work for the same company you have always worked for or are you one who has had many jobs throughout your career? Are you in the same industry that you started in?
These concepts all play a role in competition and strategy. People evolve, time changes, interests vary. With this, companies are forced to change to meet the needs to their customers. Strategies are necessary to stay ahead of the competition. By failing to compete, companies find their doors shuttered or websites disappearing.
Competition and strategy is not always just between companies for business, but for employees as well. Companies are forced to research what others are doing to keep their employee's happy so that they can avoid turnover.
Review your materials.
1) Forbes.com (2019). Seven Strategies to Get Your Business Noticed in A Saturated Market.
2) Forbes.com (2019). The Best IT Strategy Is Business Strategy.
3) Goldman, D. (2019). The strategy behind McDonald's latest breakfast creation
4) Konish, L. (2019). MBA students face off in challenge to create the next best impact investing idea.
5) McCann, K. (2018). Three-In-A-Box People Strategies That Win
6) PR Newswire (2019). New Mavenlink Study Finds Business, Competition, and Customer Expectations Rising Significantly for Services Firms.
7) Suttle, R. (2019). Different Types of Business Strategies
Task
You learned about competition and strategy. Post a cohesive response based on your analysis of the Learning Resources and your professional experience. Be sure to discuss the following:
1) In completing your assignment, you learned about healthy competition.
2) How it can be good for an organization in certain cases.
3) Share an example of healthy competition.
4) As you share the details of the competition, please provide your reasoning as to why this was healthy competition.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.