Firms competition Essay
Firms that learn to look out dig deeper and embed innovation have higher chances of succeeding. Other competencies and areas that a firm can use to compete against each other are looking out and “digging deeper’ (Lowe, 9). In order to able to compete fully, a firm should be able to identify and understand the operation requirements and challenges of the market plus the attributes of their products and services.
It is out of this that they can translate this knowledge into the operations activity and competitive strategies. The capabilities presented under the competitive strategies consist of the choice a customer will make and proposes the drive the strategy in terms of the fundamental requirements necessary. They are the basic competencies and process, the resources, technologies and key tactical issues that comprise the operations strategy. (Lowson, 167).
The possible priorities that a company may employ to compete with each other fall into four main groups; cost (low cost operation), Differentiation (high performance design, consistent quality), Response (fast delivery time, on time delivery, customization and flexibility), Combination in a focused, target market. The decision made by the management determines which operational strategy to use depending on the requirements of various customers.
According to Lowe (2003, Pg 12) no firm can succeed in all these strategies. The choice depends on which method to use lies with the management who decides on the mostly appropriate method. When such a decision is made the firm can improve in the selected area and this escalates other market driven reforms within the firm through this competition the interface between that and other practices. Therefore becomes more seamless when a firm establishes a market driven infrastructure the small
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