The industry where The TJX Companies operates is very highly competitive. According with the 10-K Form, “We compete on the basis of factors including brand, fashion, price, quality, selection and freshness; in-store service and shopping experience; reputation and store location. We compete with local, regional, national and international department, specialty, off-price, discount, warehouse and outlet stores as well as other retailers that sell apparel, home fashions and other merchandise that we sell, whether in stores, through catalogues, on-line or other media.” (10-K Form, 2015)
The TJX Companies is aware of the important of a good knowledge of the competitive forces to identify areas in which competitors are vulnerable and to evaluate the impact strategic actions would have on competitors. This is also important in order to identify potential moves that a competitor may make that would endanger a position of the firm in the market. We cannot forget what Gorge Salk state, “If you’re not faster that your competitor, you’re in a tenuous position, and if you’re only half fast, you’re terminal” (Pearson) …show more content…
It is a widely used approach for developing strategies in many industries. This model identifies a set of five forces that affect competitiveness; among which one of the forces is within the sector it and the others are external. Having these five factors well studied and analyzed, it can be used to develop effective strategies for The TXJ Companies against its competitors. Depending on how well TXJ respond to those five forces, it can lead to higher chance of success of the
The TJX Companies is aware of the important of a good knowledge of the competitive forces to identify areas in which competitors are vulnerable and to evaluate the impact strategic actions would have on competitors. This is also important in order to identify potential moves that a competitor may make that would endanger a position of the firm in the market. We cannot forget what Gorge Salk state, “If you’re not faster that your competitor, you’re in a tenuous position, and if you’re only half fast, you’re terminal” (Pearson) …show more content…
It is a widely used approach for developing strategies in many industries. This model identifies a set of five forces that affect competitiveness; among which one of the forces is within the sector it and the others are external. Having these five factors well studied and analyzed, it can be used to develop effective strategies for The TXJ Companies against its competitors. Depending on how well TXJ respond to those five forces, it can lead to higher chance of success of the