Competition and Strategic Management

Published April 25, 2014 by Mayrbear's Lair

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Competition exists and is alive and real in today’s global economy! Every company faces some kind of competition that includes such components as how they set their prices, the quality of the products they produce, or the performance level of services they provide. In fact, many leaders in today’s business arena, claim that at times, it can feel like a fierce battleground.

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In order to maintain a competitive edge, organizations are always looking to improve, find creative solutions, and implement strategic management plans to help them achieve their goals. When operational functions at a firm are not producing successful outcomes, that is a clue that management needs to focus on the strategic planning process and develop systems that will encourage effective team work to help the organization operate more efficiently.

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Companies, on the other hand, that are not concerned about their competitor’s efforts, are more likely to stifle the firm’s capabilities to grow successfully. For example, understanding how a competitor achieves their goals with the systems and functioning processes they implement, can help leaders in key positions effectively determine what changes and adjustments may be required to give them a competitive edge and maintain it.

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For example, the academic institution my child is enrolled in, was a unique new business model that has grown exponentially in the past ten years. As a result of their successes, other similar organizations have entered the marketplace vying for a piece of the action. This year, however, the organization implemented new policies to meet state and federal requirements. As a result, it introduced a new set of challenges for the staff, students, and parents leaving many feeling overwhelmed, frustrated, and stressed. If management is not able to resolve these issues, families can now look into the school’s competitors as a possible solution, and if their operating systems are more effective, the institution is likely to see  a drop in student enrollment.

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Only time will tell how the organization  chooses to manage these issues. In the meantime, parents like myself, who are active participants in their children’s academic lives, will continue to do what we can to work in partnership with the educational institution so that our children can continue to learn and evolve with self-esteem and confidence, rather than conform to a program that is not functioning at full capacity, creating stressful situations, or worse, does not encourage and guide students to reach their full potential.

That’s it for this week. Have a great weekend everyone … and keep organized!

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“Nobody cares if you can’t dance well. Just get up and dance.” — Martha Graham

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