Motivational Speaker Paper
Hello, Im Your Motivated Speaker
Good morning ladies and gentleman, my name is Mai Biz; I have been giving seminars on many different business topics for several years. Darby Development has hired me to discuss the importance of gaining competitive advantage over the competition. What everyone involved in the company can do to help your organization achieve this status quo. The topics we will cover today are achieving competitive advantage over our competition. Tomorrow’s discussion will cover international business.
If you can all respond by raising your hands to the response to the next few questions it will help me in determining what knowledge some of you may have about the topics. By a show of hands how many of you know and understand what competitive advantage is? That is great approximately 68% of you already have this knowledge on this topic. Do any of you know what a company needs to do in order to create value that leads to competitive advantage? Ouch only about 30% of our audience knows that creating value and competitive advantage work together.
Please allow me to give you the true definition of competitive advantage; competitive advantage is a condition which allows the company to operate more efficiently within the competitive industry. A company who has competitive advantage will outperform the competition (Spulber 2012). In order for a company to achieve competitive advantage the company must align the company’s abilities, to the market opportunities. Companies cannot sustain competitive advantage indefinitely and must continuously find opportunities that will help to create value.
An important question is; how does the creation of value lead to competitive advantage? Competitive advantage is reached by a company when they have the same value as the competition, offering lower priced products, or through charging higher prices through differentiation. Value creation has three aspects; benefits received by the customer, the overall cost incurred by the organization, and the combination between the customers and suppliers.
How many firms achieve competitive advantage? The answer to this question is that many companies try and achieve competitive advantage though very few actually succeed. Even if a company is successful in achieving the competitive advantage it is not guaranteed that the company will remain the top leader in the industry. There are three stages which need to be considered, of cost leadership, benefit leadership and degrees of focus. Cost leadership is a strategy that a company uses to help and create a low cost operation. The cost leadership strategy is used to help the company gain advantage over the competition through reducing the cost below that of the competition. Companies can achieve benefit leadership through boosting employee morale. Through having good leadership employee moral will increase which will prevent employee turnover,