Competitive Advantage Research Paper Example | Topics and Well Written Essays - 1250 words

Competitive Advantage - Research Paper instanceCompanies can only achieve and sustain agonistical advantage if only their services and means of delivering them edge crucial attributes that correspond to the crucial purchasing criteria of a crucial group of clients. Similarly, sustained competitive advantage results from the long-term difference between goods and services of one company and the products of its rivals in the customers mind. In the modern telephone line environment, companies compete in a dynamic and challenging environment that has been changed by various factors ranging from globalization, uncertainty, abrupt changes to change magnitude information technology uses (Whitley, 2007). Therefore, attaining and sustaining competitive advantage is the main concern in the mind of many leadership in the competitive and moderately growth markets that characterize various modern businesses and competitive advantage sources argon of crucial interest for many organizations in the modern business. ... Core competencies are crucial for organizational competitive advantage and performance as they imply the abilities and skills for effective resource deployment through the processes and tasks of an organization. It is a cross-functional capabilities combination and coordination, for instance, a competency in development of products in one part of the firm may be a result of an integration of capabilities of systems of information management, marketing abilities and product and service production capabilities in that division. These capabilities are cardinal to an organization attaining competitive advantage (Dosi, Nelson, & Winter, 2000). When analyzing core competencies of an organization, managers should realize that competition among organization is a race for program line of competence to secure market position and power. Core competencies are increasingly crucial organizations index because of its relevance to the prosperity of the organization in the marketplace. The company can use its competencies to develop their uncommon products and services and market them to gain more profits than their competitors. Similarly, choosing people with required skill and expertise, upgrading or expanding employees capacities through training enhances the competitive advantage of the company. As the experience builds up the organization reaches the level of its ability to carry its activities effectively, at a manageable cost and the capacity to start converting it into the true competitive advantage. Organisational resources and power is crucial competitive advantage source for the success and growth of the organization in the marketplace (Porter, 2004).