Search the library and Internet, and provide an example of a successful retail business that competes on the global economic market. How has this led to its competitive advantage?
Provide specific examples to support the points in your post.© BrainMass Inc. brainmass.com June 4, 2020, 4:08 am ad1c9bdddf
Growth and Business Strategy
Business strategy is an essential part of a corporate in gaining competitive advantage. Elements of business strategy and their importance are:
Competencies: These are areas where a company does well over others. Competencies provide competitive advantage.
Efficiencies: There could be competencies in some areas but there could be other areas where the company is exceptionally efficient.
Synergies: Business strategies also take into account company's particular synergies. For example a company that has advantageous location requires a strategy very different from another company that has to lure customers ...
The expert examines examples of a successful retail business that competes on the global economic market. How a situation has led to its competitive advantage is given.