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MGT503 Principles of Management Assignment no.2 SOLUTION

MGT503

Assignment no.2

MC130202766

 

 

Questions:

 

1)  If someone is conducting the competitive analysis of the organization, which tool

would you prefer him/her for competitive analysis? Justify your answer with

rational.

 

 

Answer:

 

First we come to know about the Competitive Analysis and that is:

As with any form of content analysis, you need to determine what you’re content goals are. Define the analysis criteria that you will use to assess content. This will help you focus your assessments. The more focused your findings are, the more actionable your insights will be. Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough.

Now the tool that I would like to prefer him/her for competitive analysis:

 

 

The Porter's Five Forces model is best tool for competitive analysis and I prefer this tool because of:

 

  • When we talk about the Porter's Five Forces model, it can be used to good analytical effect alongside other models such as the SWOT and PEST analysis tools.

 

  • The model provides an environmental assessment of strategically significant elements of the organization’s task environment.

 

  • The bargaining power of suppliers is the extent to which suppliers can exert power over business in an industry by threatening to raise prices or reduce the quality of goods and services they provide.

 

  • The bargaining power of buyers depends on the factors such as number of customers in the market, customer information, and the availability of substitute which determine the amount of influence that buyers have in an industry.

 

  • The threat of new entrants is the threat of a price war if new competitors can enter the market.

 

  • Porter's Five Forces model provides suggested points under each main heading, by which you can develop a broad and sophisticated analysis of competitive position.

 

  • It might be used when creating strategy plans, or making investment decisions about a business or organization.

 

 

 

 

 

 

2)  From the given scenario, identify at least two competitive advantages of the

company. Justify your answer with rational.

 

 

 

Answer:

 

 

Here are the competitive advantages of the company:

 

Competitive advantages:

 

1)      There is decrease in the rivalry between competitors, chance for ABC to establish itself because many wholesalers are associated with the toy town, which decrease the no. of competitors in the market.

 

2)      The gain of market share, because ABC toys are a mega toy town, and its convenient for the consumers to shop at one place, therefore the market share of ABC toys is more than that of their competitors.

 

3)      The small businessmen will be encouraged to join the company.

 

4)      There is also the company is providing quality toys at cheap prices so large companies will make contract to supply them toys.

 

 

  

The end

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