Strategies For Securing A Competitive Advantage

Abstract

In the 1990's, corporations and entrepreneurs alike are constantly looking for new ways to make or increase profit with a product or a service. The days of old when people accepted whatever the market had to offer in mass quantity are all but gone. Businesses must be highly competitive in meeting the customers’ needs. These customers, whether they are individuals buying for personal consumption or businesses buying to meet their own requirements, are demanding higher quality, new technology, at a fair cost all in a shorter time span. They want specialised customer service and products that address each of their unique preferences. Standardised products or service is becoming a thing of the past. Society as a whole also demands businesses to treat the environment in a non‐damaging way and positively address issues that have an adverse effect on the physical and emotional well being of its members. Consumers tend to favour businesses who take a responsible proactive approach.