IDENTIFYING COMPETITIVE ADVANTAGES

Assalamualaikum guys. We meet again. For this post, i would love to talk about the second chapter of MGT 300, which is IDENTIFYING COMPETITIVE ADVANTAGES. From this chapter i have learned that in order to survive and thrive, an organisation must create a competititive advantage. Below is the competitive scope that an organisation should practice.

Besides that,i have learned about the 5 FORCES MODEL OF COMPETITIVE STRATEGY.  This strategy was introduced by Michael Porter. The Porter Analysis identifies five forces and then asks for a determination of the level (high or low) of that force in the industry. The five forces are : 



 1. The intensity of the competition among industry competitors.
 2. The threat of new entrants entering the market.
 3. The amount of bargaining power in the hands of the suppliers to the organizations.
 4. The amount of bargaining power in the hands of customer of organizations.
 5. The threat embodied by potential substitute products to existing products.

Identifying your competitive advantage isn’t always as easy as you think. Most good business ideas are established by a competitor. But lets pretend the idea has not been established by anyone, absolutely no direct competitors. Now let’s pretend that you establish the idea and the idea is huge success, i guess.

Well,this is basically what i have learned in chapter 2 of MGT 300. 

GOODBYE. THANKS FOR READING. LATER PEEPS.  :)