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Explain why a business who's pursuing differentiation for a competitive advantage has to attain parity with competitors?
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- What strategy should a business manager follow to increase the competitiveness of his business?"What methods and factors should businesses consider when evaluating the market potential for a new product or service in today's dynamic business environment?"Why will we assess any business model, and how will we view our business solution that will deliver actionable business insights?
- Form a small group and conduct a customer value analysis for competing companies in an industry of your choice. Who are the strong and weak competitors? For the strong competitors, what are their vulnerabilities?Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?What are the six key questions that form the framework of thinking strategically about a company's industry and competitive environment?
- How can a company adapt its business processes to changing market conditions and customer needs?Colleges and universities, like all businesses, have strengths, weaknesses, and competitors. What would be considered to be an online university's internal strengths and weaknesses? Why? who would be the competitors to online universities? What are three external opportunities and three external threats?What is Business Model Innovation (BMI)? How can it help businesses remain competitive?