Many companies face challenges to make their products stand out due to globalisation especially in emerging markets, and expanding product portfolio from other businesses. The food industry not only has to develop innovative ideas for the growing population, but provide consistent high quality both in products and services (Dumovic, Knowles, 2008). The purpose of this academic essay is to critically analyse the importance of implementing, supporting, and driving factors to help Pars Food Ltd communicate, identify competitive advantage and differentiation, to meet long term aims, and strategies (Dumovic, Knowles, 2008).
To accomplish competitive advantage, and differentiation three elements are crucial; stating the strategies and practicalities, focusing on knowledge based behaviour, and improving the customer relationship management.(Slater and Narve 1995).
Implementing factors provides an overall corporate strategy meaning, helping an organisation strive towards achieving company goals (Thomas, 2013). To develop new strategies, market research would have to be carried out both from primary and secondary sources about what consumers would favour in terms of product and service provision (Ebert, Griffin, 2011). Therefore, a market orientated culture is integrated in businesses to focus solely on customers opinions of their products and services to gain a competitive advantage( Slater and Narve, 1995).Market orientation has a direct correlation with improving performances of companies, due to a central role of customers, helping develop existing strategies (Slater and Narve, 1995). Furthermore, demographic and geographic variables could help businesses decide which area is a priority to collect market research from, which can prove valuable assets for a company competitively (Ebert, Griffin, 2011).
Also implementing factors links to production, meaning operation control, quality control and management can contribute towards achieving competitive advantage. Operation control includes just in time (JIT) which promotes lean production to reduce waste and increase efficiency (Ebert, Griffin, 2011). Furthermore, material management can be put into practice which allows managers to control and organise resources coming in and out of the business to minimise on waste and costs. Also quality control is required in order to meet specific standards of products being distributed to consumers. Quality control includes total quality management which considers interdepartmental contributions and value added analysis thus, giving responsibility to all employees in achieving high quality. (Ebert, Griffin, 2011). Therefore, by minimising costs on production by promoting lean production, and reducing poor quality, businesses can use surplus capital on other areas of the business thus, increasing competitive advantage (Ebert, Griffin, 2011).
Supporting factors are needed to make internal stakeholders understand...