Strategic Management Assignment Example | Topics and Well Written Essays - 2000 words - 1

Strategic Management - Assignment ExampleThe core managencies of an organisation are focused on satisfying customer needs and demands to contact more than average returns (Thompson, 2001). The Business-level strategies help the organisation to achieve its targets. The actions of Business level strategies provide encourage to customers and help the organisation to gain a competitory return (Kaplan and Norton, 2001). The Business-level strategies are also concerned with the position of the firm in an industry, with respect to competitors and to the five forces of competition (Hill, Jones and Schilling, 2014).A competitive advantage is a benefit which is gained everyplace its rivals by a company by offering customers value for the products, through lower prices or by providing additional benefits and service that can justify identical or higher prices (Ansoff and McDonnell, 1990). Manufacturers or producers who are involved in niche marketing, exploring a competitive advantage, t o them it means increased profit and a sustainable parentage and its success over the long term (Pearce and Robinson, 2000). The following categorisation defines competitive advantage better and discusses several strategies which help in building a competitive advantage of a company.Cost Leadership is a strategy by which the company makes continuous efforts to cut costs relative to its competitors (Goldman and Nieuwenhuizen, 2006). Here the company aims to compete for a wide range of customers based on price. Differentiation is a strategy by which a unique feature in the product provides value to the customers. It is created by lowering buyers cost, sustainability and raising buyers performance (Stevenson and Hojati, 2007). In Focused low cost strategy, the company selects a sharp segment of market to sell its products or services at a competitive price (Thompson, et al., 2008). In