According to the resource-based theory of a firm, there are two characteristics that resources must have to maintain sustainability of the firm’s competitive advantage: To achieve this objectives the company should arrange workshops, seminars, visit of key employees to other pharmaceutical industries & training courses which will focus on injecting skills and professionalism into employees. Enforceability can come from o… He is also of the opinion that resistance to change can serve as an obstacle for successful execution of planned changes, as it encompasses behaviours that may slow down or even terminate a planned organisational change. A competitive advantage is what enables a business organization to thrive and to offer a superior service over and above its competitors. Generally, trade unions are recognized for collective bargaining purpose, and communication between employer and employee. Furthermore Crossroad Inc should established fair paying and reward system that best on justice and efforts. 1 Scarcity This article will analyze the competitive advantage of Walmart and explain how the company has achieved a sustainable competitive advantage through knowledge and resources. By maintaining a process-focused strategy, AB/InBev has created a sustainable competitive advantage—their unique lineup of products all revolve around the same quality ingredients. International Review of Business Research Papers 3(1) , 1-10. Sustainable Competitive Advantage Analysis Words: 579 Pages: 3; Airborne Express in 2002 Words: 2129 Pages: 8; Factors and Roles of HR Management and Sustainable Competitive Advantage Words: 3754 Pages: 14; Fedex vs Ups competitive advantage Essay Sample Words: 1031 Pages: 4; How SPX achieved its strategic advantage Words: 1082 Pages: 4 According to Newman and Hodgetts, “human resource management is the process by which organization ensure the effective use of their associates in the pursuit of both organizational and individual goals” (Newman & Hodgetts, 2005). It is for this reason organization plan and forecast for human resource so as to remain competitive. Reference this. For this purpose Crossroad Inc should scan internal environment to find out suitable employee and promote to fill the vacancy, if there are no such employees available, then HR Department should scan external environment for skilled and experienced employees. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The report finds and recommends that the implementation of the tools by a player in its analysis of the diamond industry would ensure the SCA it seeks. Sustainable competitive advantage therefore refers to a long term advantage that competitors cannot copy or surpass easily. Usually, the temporary competitive advantages will be replicated by the competitors and in order to make the resources and related competitive advantages become sustainable, these competitive advantages must be redeployed in other product markets. Is Competitive Advantage enough? Its supply chain pipeline moves from one country to the other, thus making it impossible to analyse the industry from a regional or local angle, as so doing will fail to give the true picture. Every organization’s corporate strategies are focused at developing a sustainable competitive advantage that will allow the company to continuously maintain and improve the enterprise’s competitiveness in the industry it is in. Like all good plans, HR Manager of Crossroad Inc should builds employment plans on premises basic assumptions for employment requirement by forecasting three things: The HR department should first check that either there is any job placement or company is expanding their business so that new jobs are open for new candidates. Training needs for Crossroads Inc should be based on the following different methods: Performance Analysis: What tasks the analyst is currently performing? No plagiarism, guaranteed! The sustainable competitive advantage is rare, valuable, durable and inimitable. The goal of most organizational strategies is to create and then sustain a competitive advantage. In some cases it should cover a week and sometimes it should be extended up to 6 months. Wal-Mart has adopted cost leadership strategy to achieve competitive advantage in the market. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Registered Data Controller No: Z1821391. Assignment 1: Discussion Question Sustainable competitive advantage is the “holy grail” of corporate strategy, but it is elusive.Using all you have learned to date about Harley-Davidson, analyze whether or not Harley-Davidson has a source of sustainable competitive advantage. Training visits to other pharmaceuticals. Every functional department of Crossroads Inc should be responsible for carrying out and preparing its performance appraisal report. Human Resource and the Resource Based View of the Firm. The Company is not responsible and will not report to any third parties due to unauthorized utilization of Essay About Sustainable Competitive Advantage its works. Eventually Wal-Mart grew to become market leader among the US discount department stores. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly . 2 Imperfect mobility The Crossroads Inc should use the proper remuneration system that is fair to both the company and employee. How Wal-Mart has gained sustainable competitive advantage This sophisticated technology --in the sense of experience, know-how and mass investment -- made it very difficult for competitors to imitate or neutralize Wal-Mart’s competitive... ...Introduction Sustainable development has three main pillars as economic, environmental, and social performance that the organizations should contribute to their improvement. These courses will help Crossroads Inc to improve the skills of their employees so that not only company can get maximum out of them but also employees can enrich their nature of job and life standard as well. An example is Southwest Airlines. that exceed the average for it’s industry. Firms can assess which strengths have potential to be sustainable competitive advantage. All these people will get together in the future, for the sake of the new company. Robbins, & Judge. Michael Porter’s Viewpoint... ...Case 8: Sustaining Competitive advantage On the contrary, unions in HardPharm are not as popular as Tradco. If the organisation uses an appropriate HR strategy during the period of change, an employee may feel that he is being treated and looked after by the organisation. Unions serve important purpose by working as a link between the labour and the organization. The organization should variety of remuneration system including monthly salaries, straight commission, combination of salary and commission coupled with monthly, quarterly and annual bonuses. During the years, Wal-Mart developed a technological superiority that provided the company with almost real-time information about inventory, suppliers and buyers. " According to Losey technology is advancing so rapidly that it is forcing organisations to change their strategies, in respect to product mix and the way HR is organized and delivered (Losey, 2005). In Search of Exchellence. Competitive advantage is defined as an idiosyncratic lead a … Definition: Sustainable Competitive Advantage Sustainable competitive advantage is a lasting ability to outperform all competition in a particular area or industry. If staff is required then the company should try to find them inside the company by upgrading their employees if it not possible then new jobs are created and fill by the outside market. Michael Porter of Harvard Business School has identified two basic ways of gaining a competitive advantage; cost leadership and differentiation leadership. Change, Organziational Devleopment and Culture: Human Resource Management’s Role in the Future of South Africa. Organizational Behavior. Sustainable competitive advantage, on the other hand, can be achieved if the company’s resources and capabilities are inimitable and non-substitutable (Gamble, Thompson, & Strickland, 2016). Sustainable Competitive Advantage Essay. "Cadburys Strategies For Sustainable Competitive Advantage Marketing Essay" - read this full essay for FREE. Cost Leadership Sam had the idea of reaching small towns in rural areas where the people had to travel many miles to do their shopping. The goal of much of business strategy is to achieve this from a competitive advantage. But in order to experience this incremental change the organization must be able to constantly monitor and evaluate the environmental forces and take actions in response to change that will provide opportunities to the organization and minimizes its threats. 1. ...Jay Barney and Michael E. John M. Olin School of Business , Washington University. Today, having a sustainable competitive advantage has become one of the most important factors that largely determine the success of a business. Human Resource Management: A Customer Oriented Approach. The incremental change is change that the Crossroad Inc will undergo through in the natural evolution process. Competitive advantage helps a company to let them perform beyond the expectation compared to its competitors (Namada, 2018). Different authors have different *You can also browse our support articles here >. It is important to note that being a low cost company is not the same as being a low price company. The report shall examine the five forces together with the macro-environment factors. A sustainable competitive advantage takes place when a company develops or acquires an attribute that makes it do better than its competitors. Organizations need to create comprehensible goals, strategies, and operations to maintain their competitive advantages over time. (Prior to the iTunes store, the only means of acquiring digital music was illegal file swapping.) The organization should see this as opportunity to form a strong culture by initiating the proper change. A Sustainable Competitive Advantage Essay. temporary competitive advantage can not maintain. Our academic experts are ready and waiting to assist with any writing project you may have. Only quality papers here. Over the years, the understanding of how a firm can attain and maintain sustainable competitive advantage is major area of research in the field of management. Management fig. Unilever’s Sustainable Competitive Advantage: Analysing Resources and Capabilities This essay examines how the multinational conglomerate Unilever is able to generate sustainable competitive advantage. For example, iTunes and iPod created competitive advantage for Apple and value for its customers by combining elements of design, price, and capability in a unique way. Journal of Management 27 , 701-721. Defend your answer using examples from your readings, the annual report, and other sources.Submit your response to Crossroads Inc. is a medium-sized organisation, with 1,500 workers employed at three sites: one in Scotland, County Durham, and Kent. Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage. In order to reduce the cost, employers are trying to hire labour in with low wage, and then what they have got is low quality staff. SCA is facilitates the improvement and maintenance of an enterprise’s ability to of earning returns on its investment that is higher than the cost incurred in the investment. Looking for a flexible role? It now more difficult to hire and retain highly qualified associates as the growth and profitability of the organization depends on how well the organization managed it human resources. The organization should also facilitate the creation and execution the labour union approach that will serve as joining link between the organization and its workers. For Crossroad Inc the incremental change process may take the form of introducing new HR system and process (as proposed above) that will augment the organization performance further and help the organization to get competitive advantage over its competitors. Moreover, it requires to avoid the pitfalls of either of the strategies while their implementation process. No meals 1 Starbucks Coffee Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage . Wal-Mart Stores Inc. is one of such companies in the retail sector that has achieved sustainable competitive advantage over a period of time. Losey, M. (2005). Starbucks Coffee USA: Pearson. But the most important advantage was being the first company to make it easy to legally download music to digital devices. Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. The HR manager of Crossroads Inc should use the planning & forecasting procedures to cope with human resource requirement. Sustainable competitive advantage is a very important factor in determining the success of any Professional Sports team. For WPP, China meets all the criteria, which are considered important with an objective of deriving sustainable competitive advantage. A sustainable competitive advantage is making your company have a unique value position, in a competitive environment, while defending the supported proposition. Sustainable competitive advantageIt is the ability consistently to adapt to environmental changes, accomplished only through identification, development, and preservation of strategic capabilities (Bartmess and Cerny, 1993). A sustainable competitory advantage occurs when an organisation acquires or develops an property or combination of properties that allows it to surpass its rivals. New York: Waner Books. Get the Flashcards Take a Marketing Quiz  Boselie, P., & Paauwe, J. Building on these underlined assumption this dissertation the link between a firm’s success and the competitive advantage. All these effort require skilful, trained and experienced workforce. It takes much more effort from a... StudyMode - Premium and Free Essays, Term Papers & Book Notes, the satisfaction of instractors on the performance appriasal system and its efect on employees outcome: the case of selected public universities in ethiopia, Selective serotonin reuptake inhibitor Essay, First Amendment to the United States Constitution Essay. August 26, 2017 Management. According to Boselie and Paauwe (2004), top performing firms has HR professionals who have the main input in the strategic planning. Newman, D. R., & Hodgetts, R. M. (2005). What is Strategy & Competitive Advantage? The easy-to-understand site came with free downloadable software customers could use to organize and manage their digital music library.4 Company Registration No: 4964706. Fewer inputs (hops, rice, barley, etc.) Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. A planning process is being implemented in which Crossroads Inc can ensure the proper training, awareness and competence development of people. When the organization will have a fair remuneration system it will ensure the proper motivation across the organization and the organization will be able to achieve its goals and objectives effectively and efficiently. In order to do that I will implement two strategic management models: the resource based view (RBV) and the knowledge based view (KBV).By using these models I am able to analyse how […] This enables the organization to stand strong despite competition or saturation of the market over a long time. With the help of this attribute a company can achieve its superlative goals and can create a brand image about its products as well. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Crossroads Inc. develops and produces medicines for the global market in competition with industry giants such as Bosch, Pfizer, Lilly, gsk etc. Is training the best method?   A very small number of employees are members of the unions as the company discourage unionization. Once the internal environment along with external environment is scanned, a draft forecast should be prepared. Plessis, D. (2007). The process of product innovation that. The goal of much of business strategy is to achieve a sustainable competitive advantage Question 1: What are the isolating mechanisms preserving Wal-Mart’s competitive advantage in the US market? An organisation is regarded as a unified organism that constantly learns and adopts to find better ways of doing its business processes in response to the dynamic environment it faces. Along with these training programs, Crossroads Inc should make their employees fully aware of their job requirements by mean of job descriptions so that they can develop a clear picture about at what are necessary requirement of their job and want are not. They are trying to get maximum return and lowest cost. If you need assistance with writing your essay, our professional essay writing service is here to help! We're here to answer any questions you have about our services. ¬This report focuses on how Wal-Mart has achieved competitive advantage by adopting cost leadership strategy and providing consumer goods at lower prices. Ensuring that employees are aware of the relevance and importance of their activities and how they contribute to the achievement of the quality objectives. Wal-Mart’s strategies that have helped to reduce power consumption to a great extent as well as the company’s future plans to go green have been studied in this report. A competitive advantage becomes a sustainable competitive advantage when other companies cannot duplicate the value a firm is providing to customers. Identification of competency needs for personnel performing activities affecting quality. It’s the uniqueness factor of a firm over its competitors. The same is true for pharmaceuticals industry. The core of their success was defined by their technological superiority and the way Wal-Mart treats her associates (customers, employees and suppliers). The performance appraisal system in the company will help the organization to better focus its efforts on the attainment of the organizational goals and objectives by giving timely feedback regarding an individual employee that how best he is going to achieve his objectives. Contemporary, if there are no unions, or company does not recognize unions, then leaders would not know the needs of staff, they could not adjust the management detail. These strategies need to be rare, valuable, and non-substitutable. Wright, P., Dunford, B., & Snell, S. (2001). In addition, in order to give a balanced view, the report will seek to discuss the effect the chaos theory can have in attaining Sustainable Competitive Advantage (SCA) and the importance of stakeholder management to SCA for the firms in the diamond industry. Industry from a Global point of view property or combination of properties that sustainable competitive advantage essay it surpass! Availability of skill workers in Tradco, unions playing a good role between employer and employee, more than %. The university of Michigan business School has identified two basic ways of gaining a competitive advantage and it! Should establish and maintains a procedure to ensure a competitive advantage in the interest of new! 'S not likely to decay but will also serves as potential source of sustainable competitive.... 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