Mgmt690 Phase4

In: Business and Management

Submitted By amanda42509
Words 1190
Pages 5
Phase 4 Individual Project: Cultural Considerations
Amanda Moon
Colorado Technical University Online
Professor: Dr. Colleen Flynn
December 14, 2015

Cultural Considerations
Competitive advantage can easily be achieved by providing innovative products and services to customers in a market. This report contains various considerations to remain competitive in the market place. In addition, primary factors for making decisions, strategies for rivalry firms, and future plans to remain competitive in a global marketplace are also analyzed.
Considerations to remain Competitive Organizations need to way innovative ways to remain competitive. Having well planned strategies will help companies remain competitive in the market. The organization should analyze the overall market and events taking place externally in the environment. By utilizing strategic planning helps an organization create policies and services in the market. Strategic planning also helps to achieve competitive advantage. Being new in the global marketplace, it is highly beneficial to perform a SWOT analysis on the organizations two biggest competitors. The two biggest global competitors are; IKEA and Ethan Allen both are setting the scale for being very competitive in the market. The SWOT analysis on both organizations will provide information to help the organization keep up in the competitive market. (Steinberg, 2015) Along with the SWOT analysis the organization should perform analysis just at the 5 C’s of marketing as well as a PEST analysis. The 5 C’s of Marketing is used to analyze five key areas that are involved in marketing decisions for a company, they aspects include; company, customers, competitors, collaborators, and climate. The 5 C’s is a great guideline to make the right decisions, and define a proper marketing plan and strategy. A PEST analysis is the…...

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