Creating and Sustaining Superior Performance through Competitive Advantage - Case of Manufacturing Companies
1.0 Introduction
Strategies are central to the achievement of sustainable development. These are the driving force of practically every organization that are motivated to grow fast ahead of the competitors, grow in line with the industry or to simply catch-up and defend an existing status. Organizations are also initiated by efforts to maximize profit and minimize risks through strategizing. Such initiatives were undertaken to drive sustainable competitive advantage of the company. According to Porter (1985), competitive advantage is the position that a firm occupies against its competitors. Building a competitive advantage (CA) means to take offensive or defensive actions toward a sustainable market position that successfully managed competitive forces while generating superior performance and returns. There are two basic types of competitive advantage – cost leadership and differentiation. The third element of this strategy is focus as cost focus or differentiation focus (Porter, 1998).
2.0 Problem Statement
Under the circumstances that its competitors were and could not able to duplicate or imitate the value-creating processes and position of the firm, sustainable competitive advantage is achieved. As such, sustainable competitive advantage should be the basis of above average performance. The problem is that how manufacturing companies could create and sustain such superior performance that drives the survival of the company. The key question to be answered is – how does manufacturing companies acquire sustainable competitive advantage? Other research questions are:
1) How do manufacturing companies create superior performance?
2) Once created, how do manufacturing companies sustain such level of performance?
3) How do manufacturing companies perceive sustainable competitive advantage?
3.0 Aim and Objectives
The main aim of this study is to explore how manufacturing companies could possibly create and sustain superior performance. It would be therefore necessary to determine their perceptions about sustainable competitive advantage and to possible acquire them. In lieu with this, the study also purports to determine the strategies employed to achieve sustainable competitive advantage.
4.0 Methodology
The research will use a multi-method approach to gather the pertinent data as it can yield to two major advantages. As Saunders et al (2003) puts it, on the one hand is that different methods can be used for different purposes in the study and on the other is that it enables triangulation to take place. The research will operate within the cross-sectional.
Another method that will be employed is the case study. According to Robson (2002), a case study is a “strategy for doing research which involves an empirical investigation of a particular contemporary phenomenon within its real life context using multiple sources of evidence.”
In this study, primary and secondary research will be both incorporated. The reason for this is to be able to provide adequate discussion for the readers that will help them understand more about the issue and the different variables that involve with it. The primary data for the study will be represented by the survey results that will be acquired from the respondents.
For my research, I have chosen the survey strategy because it can gather a large amount of data from a sizeable population in a highly economical way. The questionnaire will be data gathering instrument used for the survey and would be composed of two parts. The first part will contain information regarding the researcher and the purpose of the study; details about the respondents. The second part of the questionnaire is the survey proper.
On the other hand, the literature reviews to be presented in the second chapter of the study will represent the secondary data of the study. The secondary sources of data will come from published articles from books, journals, theses and related studies, newspaper and magazines.
5.0 Timeframe
TASK
Weeks
1st
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
11th
12th
Read Literature
Finalize Objectives
Draft Literature Review
Devise Research Approach
Review Secondary Data
Organize Survey
Develop Survey Questions
Conduct Survey
Analyze Secondary and Primary Data
Evaluate Data
Draft Findings Chapter
Complete Remaining Chapters
Submit to Tutor and Await Feedback
Revise Draft and Format for Submission
Print, Bind
Submit
References
Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press.
Porter, M. E. (1998). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
Robson, C. (2002). Real world research, 2nd edn, Blackwell, Oxford.
Saunders, M., Lewis, P. and Thornhill, A. (2003). Research Methods for Business Students, 3rd Ed. London: Prentice Hall Financial Times.
Credit:ivythesis.typepad.com
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