Competitive Strategy Optimize Business Management

Question: Describe about the Competitive Strategy for Optimize Business Management. Answer: Paragraph 1: The key ideas A potential business strategy is important to coordinate with all business activities by eliminating the intervention and maximising the profitability. An integrated business strategy assists the organisation to make appropriate decisions regarding the different operational activities. In the opinion of Schirone and Torkan (2012), a strategy helps to foster an environment in the marketplace for attaining a healthy competition. Without getting a competitive advantage, the companies could not boost up the product selling in the target marketplace. Thus, it could be deduced that strategy of marketing facilities and the healthy competition allow a business to be successful in the target market area. According to the opinion of Dandira (2011), streamlines product development is one of the major strategies that helps to make the products and services for making more profitability. Adding to this, the establishment of effective product distribution helps to maximise the marketing effectiven ess. Easy availability of the products is helpful for the business organisation to grab the customers attention. Furthermore, this strategy assists the firm to increase the communication with the customers. It is also essential to make a framework for keeping the organisational decision making a process more efficient. Considering the words of Akhtar et al. (2015), all the operational decision of the firm has to be aligned to the adopted strategies for fostering the decision making the approach more successful. In this present context, the researcher has chosen the retail furniture brand Ikea to demonstrate the business strategy. The leading firm has constructed the strategies as per the category of the business. Paragraph 2: The beneficial applications It has been observed that the source of Ikeas successful business graph in the market of retail furniture business is the Ikeas low price and flexibility. As per the view of Dandira (2011), the forward-thinking strategy of Ikea has made the firm as a top furniture seller in the international marketplace. The firm can change the concept of the people while purchasing the furniture goods. The brand has incorporated a new-thinking like solving the worst part of buying furniture that has changed the customers buying nature. This concept has helped the firm to attain a new competitive advantage, besides the conventional furniture stores. On the other hand, Schirone and Torkan (2012) mentioned that hitting the right demographic makes the production process more simple of the organisation to draw the attention of the customers, suppliers and the other business entities. It has been identified that the price point of the firm is perfect to increase its customer base. The not expensive, but n ot too cheap price range has helped to increase the good value of the brand regarding customer footfall in the retail stores rather than the rivals such as West Elm and Bed, Bath Beyond. In the opinion of Baraldi (2008), with the assistance of intricate showroom, Ikea has become a unique destination for the customers. The scholars stated that Ikea is an impartial store that helps the shopper to meet the requirements and demands. Thus, it could be inferred that the effective marketing strategy has helped the brand to introduce 298 stores in 26 countries. The annual selling of $36 billion is the other fundamental aspects of Ikeas business success. WEEK 4: Business Model Innovation Paragraph 1: The key ideas For every successful business, organisation innovation is required to attain a high degree of customer loyalty index and the utmost competitive advantage of the global market area. According to the opinion of Zhang and Li (2006), innovation is required to up surging the customer value as well to reduce the overall cost of the products and services. The innovative business model (BMI) tool is adopted by every successful business organisation like IBM, Google, Intel, Apple, etc. The organisation has created the specific business model either directly or indirectly at the time of its foundation. The business organisation is continuously developing and reconstructing the business model by using the existing technology to expand the success factor. It has been speculated that there are four important determinants such as Initiation, ideation, Integration and Implementation that help to develop an innovative business model (Lindgren, 2012). Adding to this, it is also seen that the innovati ve business model is also helpful to make the organisation financially achievable. Thus, every organisation needs to identify a significant business model for the products, service, income, expense and the target customer group. Supporting this, Liao (2013) added that an effective business model is also necessary to enhance the success factor by comparing with the other business model of the leading organisations. In this present context, Ebay has been considered in the next paragraphs to evaluate the benefits of employing an innovative business model. Paragraph 2: The beneficial applications Considering the opinion of Lindgren (2012), Ebay is one of the e-commerce sites with having an effective trading movement, so that people can buy or sell the products and services. The aims of the e-commerce organisation are to establish a visual marketplace, where the people could easily make the trading activities. The basic concepts of innovative business models of Ebay instruct the people to register and incline the products and services. The buyers from the site are not required to recompense any commission for the bidding and browsing for different product categories. According to the opinion of Liao (2013), Ebay offers a subscription package to the sellers as a monthly fee between 150 and 2,500 free listings. On the other hand, a fixed price listing can be defined as auction listings and provides advantages to that group of customers who want to buy immediately. Ebay also conducts the online conference for the sellers to provide additional training for increasing the product v alue to the target group of customers. This process helps the e-commerce site to achieve more customer visits that help directly to increase the market share in the international market area. Adding to this, Bucherer et al. (2012) cited that Ebay is also generating its revenues from the different authentic payment gateway like Pay pal, Billdesk and the other online financial services facilities. Furthermore, the opportunity of 20 free listing has helped the firm to obtain a sustainable market position in the global marketplace of e-commerce industry (Lindgren, 2012). Moreover, the integration and implementation of the innovative business model assist the firm to execute the operational activities efficiently and as well as helps to attain a long-standing business goal in the international market area. References: Bucherer, E., Eisert, U. and Gassmann, O. 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