A good company is a worthy asset. A great company on the other hand, is an invaluable asset.
One that attracts customers because of a good name, attracts suppliers in droves, and operates near capacity selling its products and services. So what really makes a company successful?
Is it poaching the best team from your competitors? This often doesn’t work based on the infancy of some of the business systems, making it difficult to maximise value from poached hires or possibly a culture misfit. Is it to have a great looking office? Neither make a company great. What does?
History shows many companies which started off small and still dominate their niches decades after they were conceived. Others barely made it to their second year and most do not make it to their 5th anniversary. Great companies are driven by a genuine passion to deliver to their employees, their customers and their owners.
Competitive advantage is something that allows a company to outperform its competitors. If your business does not have anything unique that helps it outperform its competitors, then it’s just another “good” business. The choice to implement a competitive advantage is backed by thoughtful strategy and actions to identify and sustain the advantage. Companies that have shown growth year on year have also shown a strong commitment to personnel, safety, ethics and product quality.
Strategies around competitive advantage have evolved in recent years and are based around the following concepts.
- Ease of Use
- Personal Experience
We often work with many clients in the same industries and can see that each has carved out its own sustainable unique niche based on different mixes of the competitive advantage strategies.
FocusIMS can help assist your business not only streamline its compliance obligations FocusIMS can assist keeping your business planning, strategy and actions on track.
The key is to be clear on which strategies your business will utilise to strengthen its competitive advantage.
The next step is to consider what actions need to be taken and when to achieve and maintain competitive advantage.
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If you’d like to find out more about how FocusIMS can streamline your business. Get in contact