What are some of the strategies an organization can implement to gain a competit

Question

What are some of the strategies an organization can implement to gain a competitive advantage?

Answer with the following included:

1. Content

2. Critical thinking

3. Problem-solving

4. Decision making

5. Communication

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Explanation / Answer

Gaining a competitive advantage is essential for the growth of the business and survival in this comepetitive world. Just introducing innovative ideas or panning positing them in the market is not enough for gaining the competitive advantage but instead strategies need to be formed and implemented in the production and marketing process by the organization. These strategies are important in various methods and approaches used for the functioning of the organizational structure.

To gain advantage in the competitive market critical thinking needs to be done, which means not only seeing the positive factors that will be helpful for the business growth but also the hurdles that can stop from the growth. Hence developing strategies for the critical scenarios that can come up in the long run of business is important. They help in solving the problem by making frameworks and methods to deal with all the kind of possible problemsthat can arise in the process of growth and productivity.

Strategies also form decision making tools by using different approaches for decision making that are most suitable for the organizational structure. Planning and making decisions is essential at every level of production and marketing for the business. This cannot be done by mere thought implementing but instead proper strategies have to be formed that will help in understanding the internal and external forces and make effective decision based in it. Planning and communication is important at every level in the organization. Strategies help in communicating the goals and methods that can be used to achieve those targets. Hence implementing strategies willbe helpfulin forming organizational structures and developing a smooth communication within the organization as well as with the external sources that are connected to the business.

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