Competitive Strategy And Competitive Advantaged

Competitive strategy can help in gaining com- putative advantage. It improves the firm’s competitive position. Creates an entry barrier and helps to adapt itself to market fluctuations. Competitive stratify involves the process of scanning actual and prospective competitors and planning accordingly to maintain its positing in the Market.
Some of the elements of competitive stratify are;

(a)    The innovativeness of the product
(b)    Capability of supply
(c)    Technical aspects of the product
(d)    Price competitiveness

An effective competitive strategy depends on the product and market characteristics.

Competitive Advantage of Nations
Porter postulated a diamond theory based on the concept of competitive advantage of nation. According to it, the nature of competition and the sources of competitive advantage differ widely among industries. It is through innovation that firms gain competitive advantage in international business and these firms can successfully exploit a new market easily. The diamond theory consists of four attribute namely:-

(a)    Factor conditions
(b)    Demand conditions
(c)    Strategy structure and rivalry of the firm
(d)    Other related industries

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