Business Essy

In: Business and Management

Submitted By waqasarham
Words 3442
Pages 14
WEMC FS#5-08

Strategies for Competitive Advantage
Cole Ehmke, M.S.
Extension Educator, Department of Agricultural and Applied Economics University of Wyoming

Overview A competitive advantage is an advantage gained over competitors by offering customers greater value, either through lower prices or by providing additional benefits and service that justify similar, or possibly higher, prices. For growers and producers involved in niche marketing, finding and nurturing a competitive advantage can mean increased profit and a venture that is sustainable and successful over the long term. This fact sheet looks at what defines competitive advantage and discusses strategies to consider when building a competitive advantage, as well as ways to assess the competitive advantage of a venture. The Essence of Competitive Advantage To begin, it may be helpful to take a more in-depth look at what it means to have a competitive advantage: an edge over the competition. Essentially a competitive advantage answers the question, “Why should the customer purchase from this operation rather than the competition?” For some ventures, particularly those in markets where the products or services are less differentiated, answering this question can be difficult. A key point to understand is that a venture that has customers has customers for a reason. Successfully growing a business is often dependent upon a strong competitive edge that gradually builds a core of loyal customers, which can be expanded over time. Producers and suppliers familiar with farming and ranching may know that successful ventures in the agriculture industry have typically operated in a commoditized, price-driven market, where all parties produce essentially the same product. Such conditions imply that the ultimate “winners” are the most cost-efficient producers, meaning that agricultural producers have…...

Similar Documents


...Autarky is the quality of being self-sufficient. Usually the term is applied to political states or their economic systems. Balance of power is a distribution of power in which no single nation is able to dominate or interfere with others. Imperialism is the policy of extending a nation's authority by territorial acquisition or by the establishment of economic and political hegemony over other nations. Indigenization means to transform things to fit the local culture. Most changes in original culture occur when western corporations impose their products on other economies, Westernizing. German problem is basically refers to the difficulty of finding Germany’s place in the international system. Regionalization is the process of dividing an area into smaller segments called regions. One of the more obvious examples of regionalization is the division of a nation into states or provinces. Expansionism: A nation's practice or policy of territorial or economic expansion. Imperial overreach is a hypothesis which suggests that an empire can extend itself beyond its ability to maintain or expand its military and economic commitments. Hard power is the use of military and economic means to influence the behavior or interests of other political bodies. Soft power is a persuasive approach to international relations, typically involving the use of economic or cultural influence. Mutually assured destruction is a US doctrine of reciprocal deterrence......

Words: 804 - Pages: 4

Global Marketing Essy

...Global Marketing, 6e (Keegan/Green) Chapter 1 Introduction to Global Marketing 1) A management team that fails to understand the importance of global marketing risks losing its domestic business to competitors with lower costs, more experience, and better products. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 2) As Wal-Mart expands into Guatemala and Central American countries, it is implementing a market development strategy. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 3) Global marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market. Answer: FALSE Diff: 2 Page Ref: 4 AACSB: Reflective Thinking 4) The perceived value equation can be represented as Value = Price/Benefits. Answer: FALSE Diff: 2 Page Ref: 5 AACSB: Analytic Skills 5) Recently the auto industry is shifting its attention to emerging markets such as India and Africa. Answer: TRUE Diff: 1 Page Ref: 5 AACSB: Reflective Thinking 6) Globalization is presenting significant marketing opportunities for professional sports organizations such as the National Football League and Major League Soccer. Answer: TRUE Diff: 1 Page Ref: 6 AACSB: Reflective Thinking 7) If Nestlé decides not to market biscuits (cookies) in the United States due to competitive reasons, it is considered as a lack of strategic focus and missed opportunity. Answer: FALSE Diff: 2 Page Ref:......

Words: 5306 - Pages: 22

English Essy

...Have you ever thought how your divorce will effect your kids? It seems today that there are no affects on kids for divorce parents, since there are a lot of couples who get divorce and the authorities are playing a big part of helping those kids. BUT, it is not quite true. Although it is ‘popular’ and those kids gets help, there are some unavoidable effects. Loneliness, embarrassment and decrease of confidence, fear of marriage and feeling of blame, are some of the affects. A child of divorced parents feels lonely sometimes. The fact that parents are occupied most of the time with their divorce process makes them be less aware of what is going on with their kids. The nature of a child is to seek for attention and love from his’ her parents. There fore, it creates a feeling of loneliness that the kid is carrying with him during that period. Embarrassment, from the child’s point of view, is another effect. Even though now days we find a lot of divorced couples, it is still, in come countries and societies, a shame. Therefore, the kid has a feeling of anxiety and embarrassment. Moreover, it also leads to isolation and decrease in confident since the kid feels an outsider. “Marriage” is a scary word for some of those kids. Kids who grow up in a ‘home’ where marriage was unsuccessful, will be afraid of getting married in the future. The fear of having the same experiences feelings in the future creates a rejection about the marriage subject. Those kids will be afraid of......

Words: 430 - Pages: 2


...Sunday, July 28, 2013 English Suggestion for Degree Examination Essay: 1. Savar Tragedy 2. Unemployment problem. 3. Democracy and its future in Bangladesh. 4. Internet/Information technology. 5. BDR revolution in Bangladesh. 6. Wonder of modern science. 7. Childhood memories Paragraph: 1Eve teasing 2 National flag , 3.Digital Bangladesh.  4. Vision 2021. 5. Democracy. 6. Patriotism. 7. Self-employment. 8. Load-shedding. Letter/Application: 1. Write a letter to your younger brother asking him not to be involved in Drug addiction/Smoking. 2. Write a letter to your brother advising him to read English newspaper. 3. Write a letter to your friend describing him the opening ceremony of world cup cricket 2011. 4. Write a letter to your friend telling him what you intend to do after your graduation. 5. Write a letter to your younger brother asking him not to be involved in Drug Addiction. 6. Write an application to the principal of your college for an English Daily. 7. Write an application to the DC for relief for the flood affected people. 8. Write an application to the chairman of union council for construction of a bridge. Job application: 1. Write an application along with a resume to the head of Human Resource Department of a pharmaceutical company for the post of a medical representative. 2. Write an application for the post of a customer service executive of a mobile company with your complete resume. 3. Write an application along with your resume......

Words: 633 - Pages: 3

Business to Business

...How Is Building a Brand in a Business-to-Business Context Diffrent from Doing so in the Consumer Market? Building a strong brand that is able to set a company apart from other business is always an important job. However depending on who the intended client is determines how the company will build their brand. A brand is defined as a name, term, sign, symbol, or design, or any combination to identify goods and services of a seller or group of sellers. (2007) According to Walter Landor, founder of the Landor Associates, the world’s leading brand consulting firm; a brand is a promise that the company will provide satisfaction and quality. (Burgess, C) While many things in branding are the same, building a brand that supports brand to brand, B2B, or brand to customer, B2C, sales has slight differences. In B2B branding, a focus will be made on making a strong connection with the client business in order to make their brand seen as the top choice and safe to do business with. In order to do this, the brand will be built around making strong and personal relationships with the customer to become the go-to source. Instead of mass marketing and small ads, B2B branding requires that the business be willing to accept the time to completely educate the professional buyers about the brand. These professional buyers are used because they are well informed about the needs and goals of the purchase, and focus on purchasing a product that allows them to achieve higher......

Words: 309 - Pages: 2

Diagnostic Essy

...but these sacrifices are required to bring us closer to our mark. In conclusion, everything in life commences with a commitment. Whether we decide to stick with it, is our decision. Most commitments come with consequences, but some do not. Because of consequences, people tend to deviate from making commitments because they are scared of failure and the repercussions they may bring. As stated earlier, all commitments require some sort of sacrifice, but these sacrifices are necessary to bring us closer to our mark. In the end, when we accomplish our goals that we committed to it makes us confident and gives us a sense of pride. Neil Strauss wrote “Without commitment, you cannot have depth in anything, whether it’s a relationship, a business or a hobby.”...

Words: 541 - Pages: 3

Essy on Business Ethics

...Business Essay on Morality and Ethics in Corporate World - Research Pa... Business Essay on Morality and Ethics in Corporate World SIGN IN SIGN UP SEARCH DOCUMENT S BOOK NOTES AP NOT ES Business Essay on Morality and Ethics in Corporate World By Divyashrii | August 2013 Page 1 of 1 The term "business ethics" is used in a lot of different ways. Business ethics is a form of applied ethics (Broni, 2010) that examines ethical principles and moral or ethical problems that arise in a business environment (Solomon, 1991). It applies to all aspects of business conduct (Baumhart, 1968; Ferell - Fraedrich, 1997; Singer, 1991) and is relevant to the conduct of individuals and business organizations as a whole (Bernard, 1972; Donaldson, 1982:36). Applied ethics is a field of ethics that deals with ethical questions in many fields such as technical, legal, business and medical ethics (Preston, 1997:6-11). Business ethics consists of a set of moral principles and values (Jones Parker - Bos, 2005:17) that govern the behavior of the organization with respect to what is right and what is wrong (Badiou, 2001; Seglin, 2003). It spells out the basic philosophy and priorities of an organization in concrete terms (French, 1979; French, 1995). It also contains the prohibitory actions at the workplace 1 of 5 8/7/2014 8:16 PM Business Essay on Morality and Ethics in Corporate World - Research......

Words: 711 - Pages: 3

Business to Business

...Business to Business Message Business to Business Message Businesses are very crucial to the economy. Good business messages are essential to keep the business relation in good health too. There are many types of business messages which a business can write to another daily with regards to business. It These can include messages on sales and purchases, products and services, confirmation or cancellation of orders, invoices, company announcements and notifications, employee related news such as promotions, awards, increments, bonus, appraisals, resignation and termination for example. A business message can be written by any authorized figure from a company to another authorized figure of another company. Business messages are usually formal and should be well written to earn the respect of the recipient. They not only can be directed to other business associates, they can also be directed toward the public. Business messages to the public could be an announcement, promotion, surveys, notification of change of address or contact information about the business or some other information which a client should know to ensure continued patronage of the company’s products and services. Business messages are written as a reminder or to serve as a record the business dealings that transpire between companies. That way any agreements can be proven and a company can remind the other company what arrangement was agreed upon in prior messages. Well written business messages will put......

Words: 1539 - Pages: 7


...Muhammad Khan April 18, 2014 Discussion # 9 Antigone 1. “I didn't say yes. I can say no to anything I say vile, and I don't have to count the cost. But because you said yes, all that you can do, for all your crown and your trappings, and your guards—all that your can do is to have me killed”. The political heroism in Antigone's resistance is her refusal of state power. Antigone says no to all she finds vile, and in this sense she is more powerful than the ruler beholden to his throne. Despite all his trappings of power, Creon finds himself helpless, unable to act on his own. He wants not to execute Antigone but cannot help ordering her death. Having said yes to state power, he is circumscribed by his own kingship, by very the throne that makes him the master of the land. He has surrendered himself entirely to the state and knows his circumscription all too well. Unlike Antigone, he has completely ceded his desires to take upon the mantle of governance. Creon is rendered loathsome, terrified of what his office requires of him and yet unable to act otherwise. “If Haemon reaches the point where he stops growing pale with fear when I grow pale, stops thinking that I must have been killed in an accident when I am five minutes late, stops feeling that he is alone on earth when I laugh and he doesn't know why—if he too has to learn to say yes to everything—why, no, then, no! I do not love Haemon”. Antigone recants her love for Haemon toward the end of her......

Words: 642 - Pages: 3

Home Work Essy

...Profile Process Piece: Analyzing the Rhetorical Situation Week 1 Assignment Please answer the following questions in complete sentence and paragraph format. Although this is not a formal essay assignment, please note that proper spelling, grammar, and sentence structure are required. This week’s lecture and Chapters 2 and 3 in your text will help you work through some of the terms within the rhetorical situation. Defining Topic, Angle, and Purpose 1. What is your chosen topic (e.g., a profile of Barb Collins, a volunteer at the local homeless shelter; a profile of Shipwreck Days, a citywide flea market and festival; a profile of Burdick’s Grocery, the oldest family-owned business in town)? A profile of Angelique Sago, a professional dancer who opened a dance school location in a rural area of her home community. 2. What unique angle can you present on this topic? (Consider what is new about the topic or what unique perspective can be shared about this topic.) Angelique’s dance career started off with stripping use as a source of income to provide a roof over her head for herself as well as her two young daughters, knowing that she needed to change her life. Angelique opened her dance studio in 2010 just five years after graduating college and decided that she would provide excellent service for a much reasonable price than her competitors which has now became a down fall and causing her to have to close her doors. 3. What is your purpose for writing?......

Words: 927 - Pages: 4

Business to Business

...Malaysia PROTON Holdings Berhad and Indonesia PT. Adiperkasa Citra Lestari (PT ACL) has signed Memorandum of Understanding to establish collaboration ties between both parties in relation to develop and manufacture of Indonesia National Car. (Tan, 2015) However there are business forces that affect collaboration of companies. One of the key forces is Social and Cultural in Environmental Forces, is defines as influencing mechanisms which exist within a population that guide business practices or purchasing behaviour. (, 2015) The reason Malaysia decided to collaborate with Indonesia is due to similar culture, such as religion, environments and language. Majority of Malaysian and Indonesian are Muslim which share similar language, hence the first obstacle has overcome as language plays an important role in business communication which also able to eliminates common mistakes and misunderstandings. Therefore, the development they are working on is more likely to carry out successful as strengthen of mutual ties in collaborating due to understanding of various cultures in both countries. The next forces is Environmental; Technological Forces. Define as changes in technology in technology which can have a significant impact on a company's processes, pricing of competition or even the obsolescence of a company's product. (, 2015) Besides that, it shapes the collaborative behaviours that drive results by only making collaboration......

Words: 557 - Pages: 3

Business Is Business

...The purpose of business is to provide people with a product or service and we all understand that businesses have those to whom it is responsible, whether it is the stock/shareholder or the consumer. Providing a service or making something is very black or white in the area of product or service responsibilities, where it becomes grey is in the area of social responsibility. Who would have ever dreamed that the same Ford Motor Company that destroyed thousands upon thousands of acres of rain forest in the in the jungles of South America in the early Nineteenth Century in search of an abundance of rubber would today be a champion of eco-fuels and rain forest preservation? Businesses are perceptive and have the fundamental understanding that in order to survive in today’s hypersensitive, politically correct society, they must be perceived as guardians of “what’s in” rather than concentrating on their bottom line because in many instances, that perception ends up affecting their bottom line. God created the universe and all that’s in it for us to enjoy and utilize. In Genesis, we learn that after the fall and the realization of our nakedness that Adam and Eve utilized animal skins in order to cover their bodies due to shame. They actually had to do some “dirty work” in order to make the skins into clothing. This alone tells us that having dominion over the animals and the things of the earth means we are to utilize them as needed but at the same time to be good stewards. ......

Words: 816 - Pages: 4


...Department of Business Administration BUSN69, Degree Project – Accounting and Auditing Master Thesis, 15 ECTS Spring 2014 The evolution of CSR Reporting in the Banking Sector of Greece An analysis of specific characteristics of CSR Reporting Author Papakostopoulos, Georgios Supervisors Jonnergård, Karin Loft, Anne 2014-10-20 1 2 Abstract Title The evolution of CSR Reporting in the Banking Sector of Greece An analysis of specific characteristics of CSR Reporting. Seminar Date 2014-06-02 Course BUSN69, Degree Project – Accounting and Auditing Author Georgios Papakostopoulos Supervisors Karin Jonnergård and Anne Loft Keywords Banks, CSR, Development, Reporting, Standardisation Purpose This thesis aims to examine the development of CSR reporting in the banking sector. The emphasis is set on a number of characteristics. Trends for standardization will be also examined Methodology The methodology undertaken is generally based on a qualitative research approach through a combination of content analysis with interviews. The research has a partly longitudinal, inductive and comparative character. Theoretical Perspectives The theoretical aspects that were used in the analysis were a combination of the theoretical framework of the Legitimacy, Stakeholder and Institutional theory with the reporting requirements from a number of standards, guidelines, initiatives and indices. Empirical......

Words: 24865 - Pages: 100

Homeless Essy

...Homeless and Incarceration HOMELESS AND INCARCERATION Homelessness is the problem that influences the life of the whole society. It is critical for the United States and as almost half a million of citizens do not have their own houses. They do not have the opportunities that the representatives of the general public have and cannot afford even some basic needs. Homeless individuals have to break the law and commit crimes, such as stealing food, even though they do not intend to do so, which leads to mass incarceration. This influences their behavior and increases the chances of becoming drug or alcohol addicts, which makes homeless individuals even more likely to become incarcerated. People who are imprisoned, often have no or underpaid job that does not provide these people with money enough to have a decent residence, which makes them a vulnerable population (Johnson 2015). It is important to consider what makes homeless people commit crimes that result in imprisonment. The information from various articles received during the literature review, I will reveal the connection between homelessness and incarceration, emphasizing the history that lead to their occurrence as well as the main causes of both problems. I will point out and explain the correlations between homelessness and crime rates, as well as its connections to the mental disorders, substance abuse, and chronic health condition in the context of how homeless lifestyle can be related to the......

Words: 3503 - Pages: 15


...All police should be required to have tertiary qualifications. Why/ why not? Gaining tertiary qualifications is a large commitment but research has shown that police officers who do have tertiary qualifications, set, and have higher standards. Firstly this essay will argue that police officers with higher education are less likely to use force as a means for compliance. Secondly, police officers with tertiary qualifications display a greater understanding of human behaviour in regards to the community and societal issues. Lastly, this essay will argue that police officers with tertiary qualifications have overall better job performance and attitudes. Therefore this essay will show that police officers should be required to have tertiary qualifications as it allows for a better style of policing. Ensuring police officers have tertiary qualifications will reduce the risk of police officers abusing their authority, therefore societal fear should subside. Research conducted by Paoline III and Terrill (2007) using two data sets (the systematic social observation of police officers and interviews with those officers) shows that having tertiary qualifications will reduce the possibility of police officers using force as a means for compliance. The systematic social observation approach provided data comparing officers with high school education with officers with some form of college/university education and those with a bachelor degree. The results showed that those with a......

Words: 1109 - Pages: 5

Liplasting (3) | Download | Business ethics fairness in the hiring process