(Solved Homework): Describe the four Competitive Priorities. Discuss the need for trade-offs in the implementation of…

Describe the four Competitive Priorities. Discuss the need for trade-offs in the implementation of Business Strategy.

Expert Answer

Competitive priorities represent different areas of focus by which a firm can achieve competitive advantage. In general, organizations can compete on four key competitive priorities:

Don't use plagiarized sources. Get Your Custom Essay on
(Solved Homework): Describe the four Competitive Priorities. Discuss the need for trade-offs in the implementation of…
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT!
Order Essay
  1. Quality: Better quality leads to better price for products, more customer loyalty and hence higher selling of products. Quality could be in terms of service or product. Better price is achieved through lesser rejections, losses and wastage leading to better cost for products.
  2. Cost: Lesser cost with consistent margin can lead to better price of the product attracting more customers and sustained business for the company. Lesser cost can be achieved through better priced of raw material with better quality.
  3. Delivery/ Time: On time delivery is essential for better service to customers. This ensures loyalty. At the same time the productivity of the process increases with reduced time for operation. On time delivery reduces the wait time. When delivery is in time, customers are willing to pay more, thus benefitting the producer or service provider.
  4. Innovation: If you don’t improve continually you will become obsolete, similarly if you don’t innovate you’ll be replaced by competitors. Thus every organization tends to keep innovating so that they keep on maintaining and growing its own market share.

At any point in time some trade-off has to be made while implementing any business strategy. But these are necessary trade-offs that has to be made when the existing one has to be replaced by a new one. These trade-off can be in the form of, job cuts, extra cost, losses and wastage etc. Let us take an example, when a new product has to be introduced in the market with the existing workforce, you have to make decision to choose between man-hour losses that will be faced while deploying some people from the existing workforce to the new product development and the benefit that will be derived if the new product is a success. Without these trade-off you can’t create a new product and hence you can’t grow. Hence these trade-offs are the most needed ones.

Homework Ocean
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

× Contact Live Agents