Question: A great deal of the discussion about competition and assessing a country was driven by a Western perspective, and even more so by the US perspective. Not everyone in the world sees competition the same way. How do you think the nature of competition in business will change as more and more people are exposed to different cultures?
I think competition in a free market economy has always been and will always be about satisfying the customer. Ultimately companies are in business to make money and the customer is the vehicle where the money comes from. Therefore businesses will always strive to offer better customer service, better solutions, and better pricing. By doing this they are able to differentiate themselves from the competition and be the market leader for their given product or service. The fact that more people are exposed to different cultures benefits businesses that choose to have an international business model. In a world of globalization and technological advancements it's easier to sell products internationally and having an insight into different cultures and societies helps businesses is successful.
One dynamic that is affecting this is the ever-increasing role of government in the free market economy. As government grows and takes the place of free market businesses the dynamic of competition is changed forever. The main reason is that governments aren't worried about profits or efficiencies. Governments are worried about how they can increase their size, their budget, and their influence over the free market economy.
Since government is a part of American and world culture there will always be the government influence on competition. This will be constant from country to country and continent to continent. There are however differences in societies and governments around the world. China for example is a communist society and a communist government. The influence of the Chinese government on competition drastically changed the Chinese economy and its place in the global economy. China's government propped up its manufacturing base and pegged its currency value in order to be more competitive against foreign businesses. They helped their local economies and created an unfair advantage for their businesses in the global marketplace.
When you look at the Western influence on business and competition you will see positive effects of our free market economy in every corner of the globe. Even in China you see our competitive influences showing up in their approach to business. For example the Chinese government is allowing its currency to be valued and fluctuate with its imports and exports. This fact alone creates a more even playing field for all nations to compete with Chinese goods and services.
In providing guidance for this posting, I will provide you with ideas that you can expand upon in order to develop your paper.
In actuality, I don't think that the nature of competition in business will change very much as more people are exposed to different cultures. This is due to the fact that the very nature of business includes fierce competition, and there is tremendously fierce ...
This solution discusses cultural effects on business competition.
Can someone assist with Business Strategy and Competition?
Business Strategy And Competition
Please answer the below questions.
1. Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?
2. Hypercompetition is a characteristic of the 21st-century competitive landscape. Define hypercompetition and identify its primary drivers. How can organizations survive in a hypercompetitive environment?
3. Describe the industrial organization (I/O) model of above-average returns. What are its main assumptions? What is the key to success according to the I/O model?
4. Describe and discuss the resource-based model of above-average returns.
5. What are a firm's vision and mission? What is the value to the firm of having a specified vision and mission?
6. Describe an organization's various stakeholders and their different interests. Under what condition can the firm most easily satisfy all stakeholders? If the firm cannot satisfy all stakeholders, which ones must it satisfy in order to survive?
7. Who are the firm's strategic leaders? How do strategic leaders predict the profit outcomes of different strategic decisions?
8. Explain the relationship of the strategic management process to organizational ethics.
1. Explain why it is important for organizations to analyze and understand the external environment.
2. Identify and describe the three major parts of the external environment. What is the purpose of the firm's collecting information about these aspects of its environment?
3. Describe and discuss the four activities of the external environmental analysis process.
4. Describe the six segments of the general environment.
5. Identify the five forces that underlie the five forces model of competition. Explain briefly how they affect industry profit potential.
6. Describe the factors that raise the competitive nature of an industry's rivalry.
7. What are high exit barriers and how do they affect the competition within an industry?
8. What is a firm's strategic group? What effect does the strategic group have on the firm?
9. What do firms need to know about their competitors? What legal and ethical intelligence gathering techniques can be used to obtain this information?
1. Describe the importance of internal analysis to the strategic success of the firm.
2. What are the differences between tangible and intangible resources? Which category of resources is more valuable to the firm?
3. Define capabilities and how they affect the firm's strategic success.
4. Describe the four specific criteria that managers can use to decide which of their firm's capabilities have the potential to create a sustainable competitive advantage.
5. Describe a value chain analysis. How does a value chain analysis help a firm gain competitive advantage?
6. Why is it important to prevent core competencies from becoming core rigidities?
1. Define strategy and business-level strategy. What is the difference between these two concepts?
2. When a firm chooses a business-level strategy, it must answer the questions "Who? What? and How?" What are these questions and why are they important?
3. Discuss how a cost leadership strategy can allow a firm to earn above-average returns in spite of strong competitive forces. Address each of the five competitive forces.
4. Describe the risks of a differentiation strategy.
5. How do focused differentiation and focused cost-leadership strategies differ from their non-focused counterparts?
6. Describe the additional risks undertaken by firms pursuing a focus strategy.
7. Describe the advantages of integrating cost leadership and differentiation strategies.
8. What are the risks of an integrated cost leadership/differentiation strategy?
1. What is market commonality? What is resource similarity? How are these concepts combined to identify the level of competition between two firms?
2. Define awareness, motivation and ability in reference to competitive behavior.
3. What are the advantages and disadvantages of being a first mover, second mover, and late mover?
4. What factors contribute to the likelihood of a response to a competitive action?
5. Name and describe the two types of competitive actions.
6. Define slow-cycle, fast-cycle and standard cycle markets.
1. Differentiate between corporate-level and business-level strategies and give examples of each.
2. What are the five categories of businesses based on level of diversification?
3. Describe the primary reasons a firm pursues increased diversification.
4. Describe how diversified firms can use activity sharing and transfer of core competencies to create value.
5. What are the two ways that an unrelated diversification strategy can create value?
6. What is the effect of a firm's low performance on the pursuit of diversification?
7. What are the managerial motives to diversify?
1. Why have acquisitions been a popular strategy in recent years?
2. Identify and explain the seven reasons firms engage in an acquisition strategy.
3. Describe the seven problems in achieving a successful acquisition.
4. Describe how an acquisition program can result in managerial time and energy absorption.
5. What are the attributes of a successful acquisition program?
6. What is restructuring and what are its common forms?
7. What are the differences between downscoping and downsizing?
8. What is an LBO and what have been the results of such activities?
9. What are the results of the three forms of restructuring?View Full Posting Details