Competitive strategy is a long-term action plan of a company which is directed to gain competitive advantage over its rivals after evaluating their strengths, weaknesses, opportunities and threats in the industry and compare it with your own.
The strategy matches market characteristics with the company's competitive advantages to select markets where a focus of the company's resources is likely to lead to desired sales volumes, revenues and profits.
A competitive advantage is strategic development where customers will choose a firm's product or service over its competitors based on significantly more favorable perceptions or offerings. For more on analyzing your competition, check out: How to Write the Competition Section of Your Business Plan.
Four types of competitive strategiesCost leadership strategy. It suits large businesses that can produce a big volume of products at a low cost, and that is why Walmart implemented this strategy. ... Differentiation leadership strategy. ... Cost focus strategy. ... Differentiation focus strategy.
Porter: Competitive Strategy (Definition) Competitive strategy is concerned with creating and maintaining a competitive advantage in each and every area of business. (
A competitive strategy may be defined as a long-term plan of action that a company devises towards achieving a competitive advantage over its competitors after examining the strengths and weaknesses of the latter and comparing them to its own.
Investors define competition as to any service or product that a customer can use to fulfill the same need(s) as the company fulfills. This includes companies that offer similar products, substitute products, and other customer options (such as performing the service or building the product themselves).
Having a competitive strategy is most important when a company has a competitive marketplace and several similar products are available for consumers. This strategy helps you create a defensive position in your industry, along with generating a superior return on investment.
For example, if a company advertises a product for a price that's lower than a similar product from a competitor, that company is likely to have a competitive advantage. The same is true if the advertised product costs more, but offers unique features that customers are willing to pay for.
According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.
There are three strategies for establishing a competitive advantage: Cost Leadership, Differentiation, and Focus (Cost-focus and Differentiation-focus).
Economists have identified four types of competition—perfect competition, monopolistic competition, oligopoly, and monopoly.
Effective guided-reading activities allow students to apply their background knowledge and experience to the "new.". They provide students with means to revise predictions; search for tentative answers; gather, organize, analyze, and synthesize evidence; and begin to make assertions about their new understanding.
Students move on to guided reading, during which they familiarize themselves with the surface meaning of the text and then probe it for deeper meaning. Effective guided-reading activities allow students to apply their background knowledge and experience to the "new." They provide students with means to revise predictions; search for tentative answers; gather, organize, analyze, and synthesize evidence; and begin to make assertions about their new understanding. Common guided-reading activities include response journals and collaborative work on open-ended problems. During guided reading, Jacobs recommends that teachers transform the factual questions that typically appear at the end of a chapter into questions that ask how or why the facts are important.
Writing is often used as a means of evaluating students' understanding of a certain topic, but it is also a powerful tool for engaging students in the act of learning itself. Writing allows students to organize their thoughts and provides a means by which students can form and extend their thinking, thus deepening understanding.
Jacobs explains that students learn and practice beginning reading skills through about the third grade, building their knowledge about language and letter-sound relationships and developing fluency in their reading. Around fourth grade, students must begin to use these developing reading skills to learn — to make meaning, solve problems, ...
Around fourth grade, students must begin to use these developing reading skills to learn — to make meaning, solve problems, and understanding something new. They need to comprehend what they read through a three-stage meaning-making process.
It's not uncommon for a struggling secondary reader to declare, "I read last night's homework, but I don't remember anything about it (let alone understand it)!" According to Jacobs, "How successfully students remember or understand the text depends, in part, on how explicitly teachers have prepared them to read it for clearly defined purposes."
During the prereading stage, teachers prepare students for their encounter with the text. They help students organize the background knowledge and experience they will use to solve the mystery of the text. To do so, they must understand the cultural and language-based contexts students bring to their reading, their previous successes ...
Comprehension is an intentional, active, and interactive process that occurs before, during and after a person reads a particular piece of writing.
Reading comprehension has two elements that complete the process. The first element is vocabulary knowledge. The reader must be able to understand the vocabulary used by the writer. The second element is text comprehension, where the reader puts together the vocabulary and different comprehension strategies to develop an understanding of the text. Comprehension, or the mental process that allows the reader to understand the text, begins before the reader starts the text and continues even after the reading has finished. There are some specific strategies that can be used to increase comprehension:
Reading with a purpose helps the reader to direct information towards a goal and focuses their attention. Although the reasons for reading may vary, the primary purpose of reading is to understand the text. Reading is a thinking process.
The first is the pre-reading stage, which allows the reader to activate background knowledge, preview the text, and develop a purpose for reading. A strategy for students to utilize during this stage is to look at the title of the selection and list all the information that comes to mind about the title.
Skimming, or allowing the reader to glance over the material to gain an overall view of text. Synthesizing, or putting together information to keep track of what is happening in the text. Self-questioning, which occurs when the reader engages in active learning.
Automatic reading, or the ability to read without having to decode words. The reading is done with fluency so the reader can concentrate on comprehension. Rhythm and intonation, which refers to the ability to read with some sort of inflection.
Rhythm and intonation, which refers to the ability to read with some sort of inflection. This part supports the exposure to modeled reading patterns and provides an opportunity to practice the reading.