Strategic Planning

How a firm’s unique activities directly relate to establishing a competitive advantage

A company diving in the red ocean of “cut-throat” activities can utilize selective strategy and swim in a blue ocean of countless opportunities.
In today's competitive market, businesses must differentiate themselves from their competitors to gain an edge. One way to achieve this is by offering unique products or services. This can be done through innovative features, superior product quality, exceptional design, or excellent customer service. Companies can gain a competitive edge by offering goods or services that are cheaper than those of their rivals.

Businesses must continuously adapt to advancements in technology and innovation, establish a strong brand and reputation, and maintain efficient distribution networks to maintain their competitive edge. Offering personalized products or services can also set a company apart from its competitors. Collaborations and partnerships with other firms can provide access to resources, technologies, or markets that may otherwise be difficult to attain. Moreover, having a highly skilled and motivated workforce can benefit a company. By implementing these unique activities, businesses can stand out in the crowded market and gain a competitive edge.