Discuss about the Competitiveness and Globalization Management of Innovation.
Strategies that are undertaken by the businesses help in maintaining the competitive advantage of the same over the other existing companies in the market. Therefore, the proper functioning of the business level strategies of the organization helps in identifying the manner in which the sustenance of the organization in the competitive scenario can be maintained. Uniqueness of the activities that are undertaken by the organization while operating as per the objectives of the business expansion and sustenance is one of the major strategies that are utilized by the organization.
The organization that will be considered as a part of the discussion is Bandos Maldives, which is a hotel located in Maldives at Unnamed Road. The unique service and product offerings that are amended by the hotel have helped the same in gaining a competitive advantage in the market (Meyer, Neck and Meeks 2017). The different amenities that and the manner in which the customers of the organization are treated supported the same in maintaining a well- woven brand loyalty. The key elements of the change that are undertaken by the hotel’s management team are based on the identification of the preferences of the customers who visits the hotel. The decision making systems of the management that are undertaken by the hotel supports in maintaining the proper functioning of the strategies as pr the objectives of business (Meyer, Neck and Meeks 2017).
The purpose of the discussion is based on the identification of needs of organizations to adhere to the strategies, which will be helping the same to perform as per the objectives of the business. According to Porter (1996), strategies are not necessarily undertaken by the organization for the operational effectiveness. However, the strategies that are undertaken by businesses help in maintaining performance of the systems.
Bandos Maldives has taken steps to offer products and services as per the preferences of clients, which has helped the organization in developing in the competitive market structure. The strategies that are adhered by the organization aims at gaining a competitive edge in the market over the other existing companies in the market. Operational effectiveness (OE) is based on the organization’s aim of performing the activities more effectively over the other companies, which will be supporting the concerned business to foster changes in the methods undertaken by organizations (Hitt and Duane Ireland 2017).
Porter (1996) stated that the organizational sustainability is based on the identification of the different levels of modifications in systems of the business as per strategies that are framed by the same. The mapping activities that are undertaken by organization have facilitated in fostering changes in the processes of organizations (Goetsch and Davis 2014). The positioning of the products and services that are offered by the organization and integration of the different communication systems has helped the business in undertaking continuous improvements in the processes. Strategies help in maintaining the competitive advantage among the different existing companies in the market.
As per the case, Bandos Maldives has taken steps to bring forth improvements in the quality of the services, which has helped the same in maintaining a constant rise of demand in the respective market of operation. Identification of the discrepancies that are faced by organizations and application of relevant strategies as per the demand of the customers have helped the business in maintaining a steady growth (Hair et al. 2012). Strategic position of the organization is dependent on the strategies that are formulated by the organization through the utilization of the marketing mix and the analysis of the micro and macro environments where the business undertakes its activities. The emerging technologies have affected the expectations of the customers from the organizations, which has helped in maintaining a steady rise in the functioning of the business.
The major attraction that is offered by the concerned hotel is related to the deep sea diving which was initiated through the organization’s dive center. The organization offers a friendly, professional and multilingual team, which assists in the diving ventures as per the demand of the clients (Priem, Li and Carr 2012). On the other hand, the family friendly environment that is encouraged by the organization has helped in attracting the tourist attention mostly (Hair et al. 2012). Safety and security of the tourists are one of the major concerns of the organization, which has helped in maintaining the sustainability factors of the organization as per the objectives of the organizational sustainability. The different other amenities that are designed by the organization is based on the strategy of employing uniqueness in the activities that are undertaken by the same. It has helped the organization in gaining a competitive advantage over the other existing players in the market. The uniqueness of the product and service offerings and the quality of the same has helped the organization to sustain in the competitive business environment of the nation. The favorable location of the hotel has also helped the same in attracting the attention of the customers more vividly.
The key changes that are undertaken by organizations are based on integration of workforce and the manner in which organizations might formulate strategies to adhere to the uniqueness approach of the organization. Hill (2017) stated that performance of the processes of the organizations is dependent on the identification of the unique methods through which businesses might attract the attention of the customers. Porter (1996) stated that the identification of the needs of organizations has helped in maintaining the continuous development of the systems of the business while operating in the international markets. Proper functioning of sustainability factors helps in fostering the varied levels of modifications in the systems of the business. Unique propositions of the organization have helped the same in assimilating a core competencies of businesses while operating in the respective market structure. Strategy of the organization acts as a ‘choice’ as the different market positions of the business helps in the formulation of the different strategies for supporting the success factors of the same (Cohen and Roussel 2013). The choice of the organizational strategies has helped in allocating and implementing alterations in processes of the businesses as per the objectives. Performance of the systems of the organization is reliant on strategic development of processes as per objectives of the organization (Gamble, Thompson and Peteraf 2013).
The choice of the strategies that might be implemented by the organization is dependent on the current position of the business in market. Positioning of products and services as per the requirement of customers has facilitated in fostering the different levels of changes as per the market considerations. On the other hand, the performance of the organizations is dependent on the customer preferences. Hitt, Ireland and Hoskisson (2012) stated that the identification of the preferences of the customers has helped the organization in maintaining the continuous improvement approach. The strategies that are chosen by the organization, Bandos, have helped the same in maintaining the improvements in operations of the business. Changes that are planned by the business are dependent on the circumstantial changes in the systems of the business. Chosen strategies of maintaining the quality of products and the services has helped the same in fostering modifications in the processes of the firms while operating in the market of Maldives (Molina-Azorin 2012). The strategies have helped the organization in attracting the attention of the tourists and thereby develop practices as per the needs of the customers. Alternatively, the development of strategies has helped the organization in undertaking continuous improvements in the functions of the business while operating in the international markets (Keupp, Palmié and Gassmann 2012).
Conclusion
Therefore, from the above discussion it might be concluded that the organization formulates strategies to develop the activities that are undertaken by the enterprise. It also helps the business in maintaining the unique proposition to attract the attention of customers in competitive market scenario. Performance of the systems of firms is dependent on the strategies that are considered by the firms. It helps in fostering changes in the business while operating in international markets. The different strategies that are undertaken by Bandos have helped the same in facilitating the continuous improvements in the processes of the business.
References
Cohen, S. and Roussel, J., 2013. Strategic Supply Chain Management: The Five Core Disciplines for Top Performance, Second Editon. McGraw-Hill.
Gamble, J.E., Thompson, A.A. and Peteraf, M.A., 2013. Essentials of strategic management: The quest for competitive advantage. McGraw-Hill/Irwin.
Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson.
Hair, J.F., Sarstedt, M., Pieper, T.M. and Ringle, C.M., 2012. The use of partial least squares structural equation modeling in strategic management research: a review of past practices and recommendations for future applications. Long range planning, 45(5-6), pp.320-340.
Hill, T., 2017. Manufacturing strategy: the strategic management of the manufacturing function. Macmillan International Higher Education.
Hitt, M. and Duane Ireland, R., 2017. The intersection of entrepreneurship and strategic management research. The Blackwell handbook of entrepreneurship, pp.45-63.
Hitt, M.A., Ireland, R.D. and Hoskisson, R.E., 2012. Strategic management cases: competitiveness and globalization. Cengage Learning.
Keupp, M.M., Palmié, M. and Gassmann, O., 2012. The strategic management of innovation: A systematic review and paths for future research. International Journal of Management Reviews, 14(4), pp.367-390.
Meyer, G.D., Neck, H.M. and Meeks, M.D., 2017. The entrepreneurship?strategic management interface. Strategic entrepreneurship: Creating a new mindset, pp.17-44.
Molina-Azorin, J.F., 2012. Mixed methods research in strategic management: Impact and applications. Organizational Research Methods, 15(1), pp.33-56.
Porter, M.E., 1996. What is strategy. Published November.
Priem, R.L., Li, S. and Carr, J.C., 2012. Insights and new directions from demand-side approaches to technology innovation, entrepreneurship, and strategic management research. Journal of management, 38(1), pp.346-374.
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