In this chapter, I have learned ways to survive and thrive of an organization in industry.
i) Competitive Advantage
a service or product that an organization's customers place a greater value on than similar offerings from other competitor. For example sports clothing's companies from Nike and Adidas. They sells a same products;shoes,t-shirt,tracksuit,socks and others.
*this is shoe's from adidas, the predator
*this is nike, the mercurial
ii) First mover advantage
organization impact its market shar by being first to market with a competitive advantage
for example,before air asia enter to the industry,MAS is a single company that involve in airplane.
Porter 's Five Forces Model
i) Buyer Power
ability of buyers to directly impact the price they are willing to pay for an item.
high as customers have many choices.
'Customers Always Right'
ii) Supplier Power
ability of supplier to directly the price they are charging for supplies.
high as there are limited product's manufacturers to choose from.
iii) Threat of Substitute Products or Services
high as there are numerous transportation alternatives
iv) Threat of New Entrants
high as new airlines are continuously the market
v) Rivalry Among Existing Competition
high when competition is fierce in a market and low when competition is more complacent
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