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- Category: English: Novels
- Date Submitted: 11/01/2013 01:39 PM
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Competitive Advantage
Competitive advantage has multiple meanings across the business sector. However, it can most accurately be described as a firm that “consistently has a competitive advantage over rivals when earning higher profits.” (Grant, 1998). Other competitors in the market are able to compete through by differentiating products, creating barriers and locking in consumers/suppliers with specific business strategies.
1. Business Dilemma
You have recently inherited your grandfather’s coffee shop, The Broadway Cafe, which is conveniently located in downtown (your city). The cafe offers many different kinds of specialized coffees, teas, a full service bakery, and homemade sandwiches, soups, and salads. Your grandfather first opened The Broadway Cafe in 1952 and it was a local hotspot for many years.
Unfortunately, business has been steadily declining over the last five years. Although your grandfather was an expert at running the coffee shop, it is out dated. There are no computers in the store and all ordering takes place manually. Your grandfather had a terrific memory and knew all of his customers by name, but unfortunately, none of this information is located anywhere in the store. The family recipes for the baked goods and soups are also stored in your grandfather’s memory. Inventory is tracked in a note pad, along with employee payroll, and marketing coupons. The Cafe does not have a Web site, uses very little marketing except word-of-mouth, and essentially still operates the same as it did in 1952.
Project Focus
It has been recognised that your Grandfathers way of running his coffee shop business was very outdated. Your Grandfathers recipes and other important information can’t be found, which make your job a lot harder. Even though it is nice to have the same regular customers, to have competitive advantage over other local and big name coffee stores, the way things in store are run will need to change. With no website being run for the...
Competitive advantage has multiple meanings across the business sector. However, it can most accurately be described as a firm that “consistently has a competitive advantage over rivals when earning higher profits.” (Grant, 1998). Other competitors in the market are able to compete through by differentiating products, creating barriers and locking in consumers/suppliers with specific business strategies.
1. Business Dilemma
You have recently inherited your grandfather’s coffee shop, The Broadway Cafe, which is conveniently located in downtown (your city). The cafe offers many different kinds of specialized coffees, teas, a full service bakery, and homemade sandwiches, soups, and salads. Your grandfather first opened The Broadway Cafe in 1952 and it was a local hotspot for many years.
Unfortunately, business has been steadily declining over the last five years. Although your grandfather was an expert at running the coffee shop, it is out dated. There are no computers in the store and all ordering takes place manually. Your grandfather had a terrific memory and knew all of his customers by name, but unfortunately, none of this information is located anywhere in the store. The family recipes for the baked goods and soups are also stored in your grandfather’s memory. Inventory is tracked in a note pad, along with employee payroll, and marketing coupons. The Cafe does not have a Web site, uses very little marketing except word-of-mouth, and essentially still operates the same as it did in 1952.
Project Focus
It has been recognised that your Grandfathers way of running his coffee shop business was very outdated. Your Grandfathers recipes and other important information can’t be found, which make your job a lot harder. Even though it is nice to have the same regular customers, to have competitive advantage over other local and big name coffee stores, the way things in store are run will need to change. With no website being run for the...