Competitve Advantage Essay
Competitive Advantages Paper
In today’s global economy, more and more companies are finding it difficult to grow their business domestically. As domestic opportunities decrease, more and more organizations are finding themselves looking for opportunities in the global market searching for ways to gain a competitive advantage. In this paper, team A will analyze the competitive advantage Riordan Manufacturing, Incorporated (Riordan) has in common with other companies, and estimate which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. We will also explain why we chose these competitive …show more content…
Another option worth considering is sourcing a third party transportation company to reduce the expense of maintaining a fleet of trucks. Selection of a transportation company that has a reputation for fuel efficient vehicles is another way to support sustainable business practices. These three competitive strategies will position Riordan for improved business practices nationally, and the strategies will improve the company’s overseas operations as well.
Effects on Long-Term Performance
Riordan is a successful corporation and it tends to follow a pattern of structural development. According to the company history, the company has grown and expanded since 1991 beginning with the simple structure of the entrepreneurial firm. Riordan is a successful corporation that expands and organizes along functional lines with marketing, production, and finance departments. As the company continues to prosper, Riordan adds new product lines in different industries and organizes itself into interconnected divisions that will help Riordan achieve competitive strategies. According to Hunger & Wheelen (2008), no firm can successfully monitor all competitive external factors so