Note 5 -SQM - Quality standards outside of an organization.
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Course
Strategic Quality Management
Institution
University Of Greenwich (London)
Explore how quality standards can be established outside the organisation.
Basic Competitive Strategies -
Michael Porter’s four basic competitive positioning strategies -
Overall cost leadership -
Differentiation -
Focus -
Middle-of-the-roaders -
Explore how quality standards can be established outside the organisation.
Certification and trademarks from a business perspective. Small and Medium-
sized Entreprises (SMEs) are encouraged to use the guide to (or “intending to”)
integrating their certificate and trademark strategy into their overall business
strategy- competitive strategies in determining the success of their product in
the marketplace where buyers and sellers interact.
Michael E. Porter’s (strategist) New Approach from Harvard Business School.
First “strategist,” a field that is, basically, straight economics
1980: The Five Competitive Forces
The Competitive Advantage of Nations, 1990.
Competitive Strategies are:
Basic Competitive Strategies
Michael Porter’s four basic competitive positioning strategies
Overall cost leadership
Differentiation
Focus
Middle-of-the-roaders
Overall cost leadership strategy is when a company achieves the lowest
production and distribution costs and allow it to lower its prices and gain market
share.
To outperform competitors by doing everything, it can produce goods or
services at the lowest possible cost.
Differentiation strategy is when a company concentrates on creating a highly
differentiated product line and marketing programme so it comes across as a
class industry leader
Differentiation- The differentiated product can satisfy a customer’s need in a
way that competitors cannot.
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