They May Able Focus Energy On Priority Tasks

The search for innovation should be aimd at creating and maintaining a sustainable competitive advantage in the long term . Competitive advantage is the combination of characteristics of an enterprise that creates a superiority of the company over its competitors in the industry. Sustainable competitive advantages in the long term are achievd through the continuous development of existing and the creation of new innovations in response to rapidly changing market conditions. Let’s see how modern conditions affect the attitude towards classical strategic technologies.

Are Overly Preoccupied With Secondary Tasks

The recognizd leader in the field of competitive analysis Michael Porter believes [ [3] ] that a company can achieve competitive advantage AT&T Email List if it manages to cope with the five forces of competition, providd that competitors can do it less successfully. Michael Porter identifid the following five forces: other players (competitors) in the industry, consumers, resource providers, new players in the market substitute goods. According to Michael Porter, the strength of other players in the market directly depends on the ratio of companies, their power and capabilities.

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Directly Affect Sales When Employees

The intensity of competition depends on the characteristics of the industry. The power of consumers is that they can influence not only prices, but also demand. The competitive power of suppliers makes it possible to impose conditions on BQB Directory producers depending on the scarcity of resources, their availability and the availability of substitutes. The strength of potential competitors is able to influence pricing throughout the industry, as there is a threat of their entry into the market. The reality of the threat depends on the existing barriers: access to technology, the size of financial investments, opportunities for development, the presence of administrative restrictions, the reaction of competitors, and so on. The competitive power of substitute products allows you to influence prices and demand, since there is a threat, This strategic tool is a classic.

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