Operations Management – OPS400
The Three Strategic Approaches
The three strategic approaches to competitive advantage are differentiation, cost leadership, and response. All of these make a company competitive. Each company is different and chooses how they stay competitive. The three approaches come across all differently but each is an excellent outlet to stay competitive.
“Boston Market Corporation, headquartered in Golden, Colorado, has been giving time back to busy people since 1985”(“Boston Market”, 2013, para.1). Boston Market uses the differentiation approach when competing with their large market of competitors. The fast food market is large and it takes a strong company to be successful. Boston market thrives because they want you get fast service but quality food. “For the price of a sub sandwich and chips at other restaurants, Boston Market puts ...view middle of the document...
4). This type of strategic approach works for Boston Market and keeps them competitive.
Forever Twenty One is the new go to for adorable fashion. “Celebrated by many style conscious and trend-savvy shoppers, Forever 21 has quickly become the source for the most current fashions at the greatest value”(“Forever 21”, 2013, para.1). Forever 21’s strategy is to compete with cost leadership. Cost leadership has made Forever 21 flourish. “XXI Offers true one-stop shopping in a fun, and exciting environment and has become the ultimate source for the latest fashions”(“Forever 21”,2001, para.5).
No one can deny that Forever 21’s strategic approach of cost leadership works. “Forever 21 has quadrupled in size since 2001” (Koyen, 2008, para.1). By using the cost leadership approach Forever 21 has grown rapidly.
Dominos pizza is a very well known for fast pizza deliver and delicious taste. “From humble beginnings as a single pizza restaurant in 1960, Domino's Pizza today has become the recognized world leader in pizza delivery”(“Dominos”,2013, para.3). When customers order food for delivery they expect it to be fast and fresh. “Domino's Pizza pioneered patented insulating pizza bags to keep pizzas oven-hot and crisp during normal delivery “(“Dominos”,2013, para.3). Dominos know what their consumers want fresh and fast pizza.
They are dedicated to going the extra mile to deliver quickly. Dominos states “Our delivery people drive more that 10 million miles every week to bring you the best pizza we can make”(2013, para.2). Dominos is thriving with this competitive edge. They are also a staple name that customers trust since 1960.
All three companies have used a different strategy but come out on top. Each company is different and finding a competitive edge is crucial. Companies survive when they can compete with their competition strongly. The three approaches work well when applied correctly.