Written Assignment #2
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Business and Management
Written Assignment #2
Quality Improvement and Competitive Advantage
Improving quality is actually and basically done for the purpose to have a competitive advantage over competitors in the market or industry. There are several ways through which a company gains a competitive advantage by improving quality.
Provision of services which suit the best to the customers than simply offering what the company has. When the company offers the most suitable and perfectly matching products and services with customers' needs then customers always love to purchase that product or service. So this increase sales of the company which become a competitive advantage for the company. Second, continuous improvement in quality and improving quality of existing process management leads to the provision of better services which enables the company to maintain existing customers at hand and attract new (Kanji & Asher, n.p). So in this way, the company can also gain a competitive advantage over other rivals/competitors.
Responsiveness to Customers and Competitive Advantage
Responsiveness to customers means working towards meeting the needs, wants and actual expectations of all and potential customers. In details, responsiveness to customers’ means to provide customers with what they expect from the company, what are their wants as well as working to make customers happy, provide quick, fast, friendly and useful services to customers (Parasuraman, pp. 154). Beyond that, being responsive to customers also mean that valuing customers and considering their views and thoughts.
Responsiveness to customers is the crucial way through which a company can gain competitive lead/advantage over other rivals. The firm can gain competitive advantage through providing high quality and convenient services to customers as well as involving customers and their views in business operations. So when the company involves customers then customers would feel valued and they would become loyal customers. Beyond that, customers do not go towards competitor (company or business) once they become loyal customers. So when you have an enhanced customers' line of loyal customers then you could gain competitive advantage over competitors (Parasuraman, pp. 154). Below are the ways through which a company can make customers loyal.
Asking for feedback
Admitting if wrong
Embrace any change(s)
Improving Innovation and Competitive Advantage
Innovation is the key when thinking about competitive advantage over the competitors in the current competitive business environment. But innovation is the thing which needs s to be kept improved all the time and continuously otherwise it cannot be found helpful in gaining competitive advantage. Innovation in operations and its improvement make the company capable to operate efficiently, so it leads to cost savings when a company’s operations are efficient. In addition, innovation is the factor which brings differentiation in terms of operations as well as in terms of products and services. Improving innovation means paving way for gaining competitive advantage because when companies improve their innovation constantly then they enjoy, higher profitability, better operations and performance, better facilities, higher and stronger security, and efficient processes (Smith & Peter, n.p). So by having these things (that are because of improving innovation), the company would have a strong competitive advantage over others which do not have these efficiencies nor they improve their innovation.
Improving Efficiency and Competitive Advantage
It is a fact that improving efficiency worth superior performance and superior performance worth to healthier results which have a direct relation with the competitive advantage of the company (Johnston & Michael, pp. 153-165). The ways through which a company can gain competitive advantage from improving efficiency are;
The company can increase productivity
Reduce the rate of errors
Eliminates time theft of staff
Expenses reduction and costs savings
So the company gains a competitive advantage over others in the market or industry when the company has lower costs than others, enhanced productivity, and lower rate of errors which come from the results of improving efficiency.
Johnston, H. Russell, and Michael R. Vitale. "Creating competitive advantage with inter-organizational information systems." MIS Quarterly (1998): 153-165.
Kanji, G. K., and M. Asher. "Total Quality Management Process: A Systematic Approach, Carfax." (1999).
Parasuraman, A. Ananthanarayanan. "Reflections on gaining competitive advantage through customer value." Journal of the Academy of Marketing Science 25.2 (1997): 154.
Smith, Howard, and Peter Fingar. Business process management: the third wave. Vol. 1. Tampa, FL: Meghan-Kiffer Press, 2003.
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