The first part of the assignment 3 is about technology, operation and management.
The competitive advantage of a company is what gives them an edge in the marketplace. Three main strategies are used to maintain and create sustainable competitive advantage: functional, corporate, and business level strategies.
The functional-level strategy focuses on the optimization of specific functions in an organization, such as marketing, product development, operations, or finance. These tools can be used to develop products/services that are superior and offer a better price than competitors. In business strategies, companies decide how they will compete on certain market segments or industries by taking advantage of their strengths or getting a competitive edge over other competitors. They also take into account the expansion of new markets, while managing risks associated with these moves. The corporate level strategies include companywide projects that can help companies differentiate themselves from their competitors, and increase market share and revenues.
In conclusion , using right combination functional – & business – level tactics can lead tangible benefits when compared against competition . Whether looking increase brand recognition through effective marketing campaigns , become leader innovation through improved R&D processes , acquire more customers acquisition plans / pricing policy changes etc., having clear objectives place & appropriate resources dedicated towards achieving them will ensure stable long term growth achieved without putting too much strain finances along way.