The Competitive Advantage

Paper Summary:

The paper examines the competitive edge by looking at the issues that face companies in today's business environment. The paper explores several large corporations such as Dell and Walmart and looks at the strategies of successful managers, the concept of outsourcing and the importance of customer satisfaction.

Outline:
Creating Barriers to Gain a Competitive Edge
Outsourcing
Marketing Strategy
Customer Satisfaction is Competitive Advantage
Conclusion

From the Paper:

"The importance of the competitive edge in the world of business today has probably never been more important than it is today. Modern technology has created a playing field that has given rise to competition and opportunities beyond the restrictions of geographic location or an office in a particular city. By the same token, it has created opportunities, and it is the skilled, motivated, and creative leadership of an organization that seizes upon the opportunities to increase their company's profit margin by meeting the competition head on, rather than pulling back in fear of it (Corrigan 2004). K. Corrigan says that a business approaches competition as a "compilation of process," and meets those competitive challenges with five pillars of performance that lead to success: strategic vision; innovation; ideas; performance, and leadership."

Sample of Sources Used:

• Best, M. (2001). The New Competitive Advantage: The Renewal of American Industry. Oxford, England: Oxford University Press. Retrieved May 1, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=109980461
• Corrigan, K. (2004, Winter). Steps to Competitive Advantage. Marketing Health Services, 24(4), 48-48. Retrieved April 21, 2008, from Business Source Complete database.
• Epstein, M. J., & Birchard, B. (2000). Counting What Counts: Turning Corporate Accountability to Competitive Advantage. Cambridge, MA: Perseus. Retrieved May 1, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=88984233
• Johnson, M. D., & Gustafsson, A. (2000). Improving Customer Satisfaction, Loyalty, and Profit: An Integrated Measurement and Management System. San Francisco: Jossey-Bass. Retrieved May 1, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=109360272
• Linder, J. C. (2004). Outsourcing for Radical Change: A Bold Approach to Enterprise Transformation. New York: AMACOM. Retrieved May 1, 2008, from Questia database: http://www.questia.com/PM.qst?a=o&d=111453612

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