Please respond to the following:
determine which of the two primary drivers of the competitive landscape is more influential.
Explain your rationale.
identify an organization that could benefit from the application of the I/O Model of Above-Average Returns.
Follow the five steps to justify your answer.
Do not use Apple or Walmart in this exercise, nor should the organization you select be the same as another post.
These are some examples of ther classmates responses:
(From the Learn, I have determined that Globalization and Technology are two primary drivers of the competitive landscape to be the most influential.
My rational for deciding that Globalization and Technology being the two most influential and primary drivers of the competitive landscape because globalization creates challenges and opportunities for goods and services around the economy. Local markets and companies have more competition and interdependence. Financial capital has changed in the global economy because globalization has forced competition and enforced better standards. Strategic management process helps when making decisions that revolve around the global market. Technology changes in our daily life, phones, computers, and other advances. Technology between businesses allow competitive advantage when linking information. The Internet has become the hyper pigmentation for communication between businesses.
An organization that could benefit from the application of the I/O Model of Above-Average Returns would be, Amazon. Amazon is very attractive for it’s profitability potential. Amazon has great service, fast service, and competitive prices. The pool of customers is large as they serve many target markets around the globe. Amazon studied the external environment and learned what it’s customers want. They want fast delivery, order tracking, technology options for ordering from anywhere at any time, feedback, and great prices. Amazon is attractive due to high returns. Their strategy is their service and inventory system technology being advance. They have the resources, capability, and core competencies to enhance their success. )
From the LEARN, determine which of the two primary drivers of the competitive landscape is more influential.
According to the Lecture it specifically states that Technology Diffusion is one the primary drivers of the competitive landscape and I feel that it is the most influential. This world over the past decade if not longer shows great progression and increase in its performance. There is always a new technology that is coming out proving to be better than the last one. Every business has some sort of technology but to stay within the competitive environment it has to be the current and updated technology.
From the PRACTICE activity, identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 page 15 in the textbook).
The company that I think will benefit from the Industrial Organization would be Polaroid. With the decision that Polaroid made back in the early 2000s cost them their company which made them go into Bankruptcy. This business was one of the first cameras I remember growing up on. They followed the trend of the customers and laid low for a few years to rebrand and develop their new approach. The new approach which is now the filters to the certain types and ways to take a picture. Polaroid realized the world was moving to technology fast and they started to expand into the tablets and television as well as other digital media. They are back!
Hitt, M. A., Ireland, R. D., Hoskisson, R. E. Strategic Management: Concepts and Cases: Competitiveness and Globalization, 10e. [VitalSource Bookshelf]. Retrieved from https://bookshelf.vitalsource.com/#/books/9781133708568/
Evans, L. (2014, May 14). How Polaroid Saved Itself from Certain Death. Retrieved October 2, 2019, from https://www.fastcompany.com/3030562/how-polaroid-saved-itself-from-certain-death )