All about Competitive Advantage
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10 Routes to Competitive Advantage
Colin Holmes, Business Consultant, United Kingdom, Member
In todays lean, time starved world, competitive advantage is the way forward. I have produced the following 10 routes to competitive advantage to simplify the process especially for the small business owner.
1. People. 2. Method. 3.Procurement. 4. Design. 5. Exploit Technology. 6.Continuous Improvement. 7. Location. 8. Service. 9. Brand. 10, You.
For further reference see advantee.com
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Market Domination as Competitive Advantage
Colin Holmes, Business Consultant, United Kingdom, Member
Hi Paul, yes it can because whoever has the market domination has achieved it through the 10 routes to competitive advantage either by number 4 design, say like the Dyson vacuum cleaner or number 9 brand, as in the case of McDonalds, or a combination of both. Other businesses who achieve market domination use number 5, exploit technology as in the case of microsoft and further support this with number 4, design and number 9, brand.
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Competitive Advantage
Joao Viggiani, Consultant, Brazil, Member
I believe Mr. Demba had in mind market domination in situations of imperfect competition markets, where dominance is achieved by means of political liaisons and other practices that impede real competition. In this case, while unethical, market domination is still competitive advantage, and other players need to find strategies to attack this unethically dominant player. Strategy is always the name of the game, market domination is always the goal.
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Competitive Advantage Leads to Market Dominance
Ramoni Aderoju, Financial Consultant, Nigeria, Member
In my view, Porter's teaching on competitive advantage is clear. Market domination can be achieved using any of the 3 strategies taught by Porter, i.e. 1. cost leadership (low cost) will lead to low prices for consumers, which in turn will lead to market dominance. 2. Differentiation can also make a company dominant in the market and lastly 3. focus (cost focus or differentiation focus).
They all tend to achieve a competitive advantage, which will lead to market dominance.
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On Routes to Competitive Advantage: #6
Amir Murtaza, Pakistan, Member
There is one rule for competitive advantage and that is CONTINUOUS IMPROVEMENT. These two wordd will come with out of the box techniques.
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