Competitive Strategy Customer Potentials

Question: Discuss about theCompetitive Strategy forCustomer Potentials. Answer: Strategy A strategy is a tool that a company incorporates by analyzing all market aspects as to get long-term benefits throughout the market chain. Strategy helps a company to retain its customer potentials by competing with firms engaged in making somehow same or substitute products. Managerial skills (Hoejmose et al., 2013) are very important while making the strategy as the deeper insight into consequences of such strategy is the key changing factor. The strategy can be meant as a synonym for a company's action throughout the market periphery. Strategy helps a company in allocating scarce resources effectively throughout the production and supply chains. Resources can be meant as assets, technical competency, skillfulness of manpower, and a sense of affinity towards all strategized actions. The strategy is the utmost need for a company at its several layers of working.( Grover Kohli, 2013) environment. Strategy, actually, is very tactful and efficient ranging from group to individual perf ormances. Strategy can be of several formats but few are very crucial to know as corporate strategy, operational strategy, business (Haley Haley, 2013) strategy, etc. corporate strategies are exclusively enriched for stakeholders as they are the investment sources and very much fragile(Chen, 2012) in nature, so to keep a tight hold on the stakeholders frangibility, companies often strategies themselves as to give a maximum credibility to the potential customers. Business strategy is mostly centric to competitive aspects with other companies as the main aspects while making such decisions are product designing, selection of products, benefits of consumer, win over other competitive companies, etc. operational strategies are something that helps a company in identifying the concerns regarding resources of the company, people indulged in the companys work profile, different processes used while making strategy effective at various levels in an organization. So the need of strategy int o the business domain is very crucial for management aspects as it is a tactful activity and the positive approach is very important to get long term results. Bellamy's organic is an Australian company engaged in providing organic food product for newborn babies to early childhood. Bellamy's straightforward strategy ( Verbeke, 2013) is to provide its customer with the nutrient foods which are absolutely certified by the Australian government that prohibits the use of chemicals. Since all the made products are ecological in nature and highly scrutinized while certification, it has laid a firm belief in the customer's context. Bellamy's has targeted its potential users of their products as new born babies, children so the quality of the product cannot be compromised. Bellamys has done a partnership with the company named Fonterra Australia to manufacture nutritional baby powders. The latter company is a New Zealand based manufacturer which has a proficiency in manufacturing.( Grover Kohli, 2013) skimmed milk, baby milk powder etc. the both aforesaid companies are now engaged in a long-term growth aspect and strategies to hold a better infra structure and provide a superior quality of their products. There are also some other strategies like the implementation of new technologies to procure the huge amount of in lesser time with the unparallel quality of products. Business Model Innovation Business model innovation is something that a company must incorporate into its business strategies. It lays a foundation for a company to acquire a heighten quality in terms of financial feasibility, the incursion of idiomatic concepts, the inclusion of mission (massa Tucci, 2013). statements, etc. a company has to be tactful in terms of business model innovation as to sustain in the market anatomy. Companies include such model to give an edge to their existing business models by introducing idiomatic concepts into product designing, brand community, etc. Business innovation also demands a fair platform for customers to get all the information about the ongoing curriculum in any respective company which eventually enhances the stakeholders interest (Gobble M.M, 2014) to invest more in such companies. Such models are very much crucial in identifying new customers to increase the companys growth agenda. To attract new customers, such model is very much needed as it gives a sense of connectivity with the product and with the companys intentions. New ideas are the core for such models to increase business profitability. Innovative ideas (Amit Zott, 2012) for company's strategies are something that separates it from other companies as to give a sense of affinity in the customer's regard. A brand community is one of the greatest examples of innovative models because it assembles the variant customers or users under one roof to have discussions, feedback, etc. Reconsidering traditional business (Taran, 2012). Approaches into contemporary ones are the outcomes of such innovative concerns. Some companies do merge with other companies as to get market (Casadesus et al., 2013) sustainability for long terms. Some companies innovate such product which reflects an aura in terms of its product designing or the services provided after the sale of the consumer products. Stakeholders are actually most benefited through such innovative ideas as they invest into companies and in return the company provides a complete transparency through incorporating innovative ideas into management domain. So the need of such innovative model is very much needed to sustain in the varying market aspects. Business innovation model has actually led companies to insight into untapped potentials and much more. Such a company is Biopharmaceuticals, an Australian company, which has transformed into a giant innovative platform for business models. The company is backing recent drug developers to outsource the process development and API manufacturing. They are very eager to give shapes to primary-stage researchers into robust ones. This Australian company has a wide range of aspiration to do something auspicious that is why it seeks affiliations to the variety of product developers who has the vision of innovation in their concise. This pharmacy company (Leih et al., 2014) has incorporated a huge diversified network of native drug developers to have a smooth facilitation and translation from laboratory to clinics. BPA is a one for all platforms for a drug manufacturing. With the help of its partner's support, BPA has the capability to develop preclinical-researches to clinical experiments a nd market reach. Such business innovative models have led this company to identify its potentials across the Australian market and act upon them steadily. The contemporary thinking of this company has, in return, benefited the consumers also. Reference Amit, R. and Zott, C., 2012. Creating value through business model innovation.MIT Sloan Management Review,53(3), p.41.(Amit Zott, 2012) Buckley, P.J., Burton, F. and Mirza, H. eds., 2016.The strategy and organization of international business. Springer. Chen, C.C., Shih, H.S., Shyur, H.J. and Wu, K.S., 2012. A business strategy selection of green supply chain management via an analytic network process.Computers Mathematics with Applications,64(8), pp.2544-2557 Gobble, M.M., 2014. Business model innovation.Research-Technology Management,57(6), pp.58-61 Grover, V. and Kohli, R., 2013. Revealing your hand: Caveats in implenting digital business strategy. Mis Quarterly,37(2) Haley, U.C. and Haley, G.T., 2013.Subsidies to Chinese Industry: State Capitalism, Business Strategy, and Trade Policy. Oxford University Press Hoejmose, S., Brammer, S. and Millington, A., 2013. An empirical examination of the relationship between business strategy and socially responsible supply chain management.International Journal of Operations Production Management,33(5), pp.589-621. Leih, S., Linden, G. and Teece, D., 2014. Business model innovation and organizational design: a dynamic capabilities perspective Massa, L. and Tucci, C.L., 2013. Business model innovation.The Oxford Handbook of Innovafion Management, pp.420-441 Taran, Y., 2012. Business model innovationCasadesus?Masanell, R. and Zhu, F., 2013. Business model innovation and competitive imitation: The case of sponsor?based business models.Strategic management journal,34(4), pp.464-482. Verbeke, A., 2013.International business strategy. Cambridge University Press.