STRATEGIC INITIATIVES FOR IMPLEMENTING COMPETITIVE ADVANTAGES

Assalamualaikum friends. For this post, I would love to talk about the high profile strategic initiatives that an organization can undertake to help it gain competitive advantages and business efficiencies. There are 4 strategies that can be taken,which is : 

Supply Chain Management - It involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. This must include the 4 basic components of SCM which is supply chain strategy,supply chain partners,supply chain operation, and supply chain logistics.

Customer Relationship Management - It involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability. It must include accounting system, order fulfillment system, inventory system and customer service system. 

Business Process Reengineering - It is the analysis and redesign of workflow within and between enterprises. In order to finding opportunity using BPR, there are 7 principles that must be follow which is ; 

1. Organize around outcomes.
2. Identify all organization's processes.
3. Integrate information processing into real work.
4. Treat geographically resources.
5. Link parallel activities in the workflow.
6. Put the decision point where the work is performed and control them.
7. Capture information once at the source.

Enterprise Resource Planning - It integrates all departments and functions through an organization into a single IT system so that employees can make decisions by viewing enterprises information on all business operations.

Thats all for today's post. I think this is what i have learned in chapter 3 of MGT 300. Thanks for reading.   :)

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.  :)