Competitive Advantag
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What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications
Several companies have knowledge to advance in the business world by coming up with clever ideas. Some depend on their refined public relations department, and their marketing operations to exhibit an approach in which the organization can stay in front of its rivals. Then there is a small amount of businesses that know-how to respond to changes in the market, along with the trends of their products and services. Of these businesses, only a small number of them will be able to deliver a competitive advantage ahead of its industry, and the expectation of their consumers in a timely fashion. With environmental scanning, companies continue to work and improve their business by keeping a competitive edge over its entrants, and prove to its customers that their products and services are consistent different from the competition.
What assessment and feedback controls should be used to determine the direction to take Riordan? If the strategy of Riordan does not go according to plan, at what point would you consider altering the strategic plan you have suggested?
Todays era of technology many businesses changed strategies and innovations to keep competing with other businesses, companies, and organizations. Technology has been one of many factors that make a business succeed and grow. Technology could make a business work faster; make business via e-mail, conferences, and through cellular phones. One needs to choose strong and effective strategies to make a business succeed. One also has to make this strategies work to compete in the global market of business. However, one need to understand the business mission and vision to choose strategies that will help the business grow and increase profits.