Week 6 Discussion 1
Competition and Strategy
Competition and strategy…the concepts truly go together as without strategy; you simply couldn’t compete. This week you will learn about the benefits of both strategy and competition. You will also consider what it takes to apply these strategies in real-world scenarios.
Competition and strategy are constantly evolving the new ideas and continued growth. Companies continue to soar while others are filing bankruptcy. Think about the companies that you have shopped at over the past decade. Are these the same stores? Have you found your shopping habits have changed?
Do you work for the same company you have always worked for or are you one who has had many jobs throughout your career? Are you in the same industry that you started in?
These concepts all play a role in competition and strategy. People evolve, time changes, interests vary. With this, companies are forced to change to meet the needs to their customers. Strategies are necessary to stay ahead of the competition. By failing to compete, companies find their doors shuttered or websites disappearing.
Competition and strategy is not always just between companies for business, but for employees as well. Companies are forced to research what others are doing to keep their employee’s happy so that they can avoid turnover.
Please review your materials for this week below.
· Forbes.com (2019). Seven Strategies to Get Your Business Noticed in A Saturated Market.
· Forbes.com (2019). The Best IT Strategy Is Business Strategy.
· Goldman, D. (2019). The strategy behind McDonald’s latest breakfast creation
· Konish, L. (2019). MBA students face off in challenge to create the next best impact investing idea.
· McCann, K. (2018). Three-In-A-Box People Strategies That Win
· PR Newswire (2019). New Mavenlink Study Finds Business, Competition, and Customer Expectations Rising Significantly for Services Firms.
· Suttle, R. (2019). Different Types of Business Strategies
Assignment:
Respond to at least two of your peers’ postings in one or more of the following ways:
· Offer additional strategies your peer might do to maintain a neutral stance and not inadvertently influence the content of this dispute.
· Offer edits that include would you add to, or subtract from, the opening statement your peer provided. Please provide a rationale.
· After reading your peer’s post, explain additional thoughts you have about another statement of agreement
· No plagiarism
· APA citing
1st Colleague – Emailina San Agustin
Week 6 Discussion
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Healthy competition is great in organizations as longs as programs are created to benefit the organization and its personnel in a positive manner. There are several ways to use “competition” to boost morale, promote positivity, and highlight the hard work that employees are doing every day. I understand that sometimes these programs could be highly competitive and there are some individuals that take things to personally that could result in negativity, but people are always going to have their opinions.
When I was working at Macy’s (many moons ago), there were many programs that I would say were healthy competition. As a sales associate, the main goal was to sale and because I worked in a department that made commission, there was in fact healthy competition. We would have challenges for each beauty counter, the counter with the most sales would receive cash bonuses or additional discounts. This made it fun, and it also pushed us to try to make more sales during that challenge period.
In the military, we have award programs. These programs could help with career progression and promotion which makes it highly competitive. However, I did think that it is healthy competition just as longs as guidance is in place to make this program fair.
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2nd Colleague – Steven Cole
Cole Week 6 Discussion
Top of Form
The cell phone competition between Apple and Samsung has been prevalent over the past few decades. With each business streamlining their main focal products of the Iphone and “S” series phone respectively, each business looks for ways to improve technology for its customers. With each evolution of products that are sold, each business works to tries to sway customers from the competition to use there products. As technology advances and improvements are made, the capabilities of what a consumer can do a a mobile device is endless. With the 21st century that we live in, the use of paying for items with the use of a phone has now become the norm in our society. As the Iphone is now on its 13th generation of phone and the Samsung Galaxy flagship phone is on version 23, the release of these phones results in healthy profit and revenue. Even with the marketing and advertisement piece, both businesses will make it a point to show what their product can do, and the competition can not. For the near future, both Samsung and Apple will be the flagship businesses for our mobile devices, with each product being different. It will be up to the customer and consumer if they want to be team Apple or team Samsung. I have included an article that speaks to why the healthy competition of Apple and Samsung is good for the consumer (Bajarin, 2021).
Thoughts
Reference
Bajarin, T. (2021, August 12). Why Apple and Samsung’s device competition is great for consumers. Forbes. Retrieved May 18, 2022, from https://www.forbes.com/sites/timbajarin/2021/08/12/why-apple-and-samsungs-device-competition-is-great-for-consumers/?sh=5c1b85ff5e22
Steve
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