Competitive edge for your business: [Essay Example], 380 words GradesFixer
exit-popup-close

Haven't found the right essay?

Get an expert to write your essay!

exit-popup-print

Professional writers and researchers

exit-popup-quotes

Sources and citation are provided

exit-popup-clock

3 hour delivery

exit-popup-persone
close
This essay has been submitted by a student. This is not an example of the work written by professional essay writers.

Competitive edge for your business

Print Download now

Pssst… we can write an original essay just for you.

Any subject. Any type of essay.

We’ll even meet a 3-hour deadline.

Get your price

121 writers online

blank-ico
Download PDF

A little competition can be a healthy thing. It can also be both costly and disastrous if you aren’t up to par with others in your particular business or industry. How you handle competition can be a direct link to the success or the failure of your company. You can, however, significantly increase your chances of coming out on top by creating a competitive edge.

Having a competitive edge means possessing an advantage over your competition. This does not take the luck of the Irish, but rather some solid strategic planning. Before you can accurately identify your competition, it’s crucial to first define and analyze your target market. What are you selling and to whom? Next, make a list of those companies trying to do the same. What are their strengths and weaknesses? Their strategies and goals? How do they draw in customers? What, if anything, makes them stand out from the pack?

If you don’t have this vital information, get it quickly. You shouldn’t live in awe of your competition, nor should you fear them, but you must find out who they are and what makes them attractive to current and potential customers. Assessing your competitors openly and honestly will play a key role in helping you develop a competitive edge.

Remember, winning companies aren’t successful by accident, though often it may seem that way. A closer look usually reveals that most have sized up their target markets and zeroed in on a unique approach to meet their customers’ needs, values and expectations. Through important considerations like location, product, services and product features, they have somehow found a fresh spin, a new way to offer buying incentives that similar companies either can’t or don’t offer.

Once you have developed a competitive edge, maintaining it will be a daily challenge. It will require you to look into your crystal ball and attempt to forecast where the trends and changes in your industry will come from, and what your company can do to stay ahead of the game. It will demand that you continuously track your competitors and their future plans. You will also need to recognize that through the course of time your customers’ needs may change due to a variety of circumstances. Your company must be flexible and willing to change as well.

Remember: This is just a sample from a fellow student.

Your time is important. Let us write you an essay from scratch

100% plagiarism free

Sources and citations are provided

Cite this Essay

To export a reference to this article please select a referencing style below:

GradesFixer. (2018, December, 11) Competitive edge for your business. Retrived February 16, 2020, from https://gradesfixer.com/free-essay-examples/competitive-edge-for-your-business/
"Competitive edge for your business." GradesFixer, 11 Dec. 2018, https://gradesfixer.com/free-essay-examples/competitive-edge-for-your-business/. Accessed 16 February 2020.
GradesFixer. 2018. Competitive edge for your business., viewed 16 February 2020, <https://gradesfixer.com/free-essay-examples/competitive-edge-for-your-business/>
GradesFixer. Competitive edge for your business. [Internet]. December 2018. [Accessed February 16, 2020]. Available from: https://gradesfixer.com/free-essay-examples/competitive-edge-for-your-business/
close

Sorry, copying is not allowed on our website. If you’d like this or any other sample, we’ll happily email it to you.

By clicking “Send”, you agree to our Terms of service and Privacy statement. We will occasionally send you account related emails.

close

Thanks!

Your essay sample has been sent.

Want us to write one just for you? We can custom edit this essay into an original, 100% plagiarism free essay.

thanks-icon Order now
boy

Hi there!

Are you interested in getting a customized paper?

Check it out!
Having trouble finding the perfect essay? We’ve got you covered. Hire a writer

GradesFixer.com uses cookies. By continuing we’ll assume you board with our cookie policy.