Competitive Strategy Operating Business Processes

Question: Discuss about the Competitive Strategy for Operating Business Processes. Answer: Introduction: Innovation is supposed to be very important for many of t firm operating their business processes throughout different parts of the world. Innovation in the products and services has become the trend throughout the competitive market areas. Moreover, it is a matter of fact that mission and the vision statement sometimes affect the innovation of the products (Massa and Tucci, 2013). This particularly affects the execution of the business practices of the association within the targeted marketplaces. Moreover, the definition or the actual meaning of innovation should be understood in an effective way. It is defined to be the preferred changes in the products along with the services offered by the concerned firm as to increase the selling of the products and this will help in bringing positive outcomes for the firm (Gobble, 2014). There are some of the companies who think that innovation is the idea to reduce the cost price of the products or the services offered by the firm. Apple is o ne of the leading firms which have significantly adopted the desired concepts of innovation as to amplify the selling of all its respective goods throughout different market segments. The implementation of the concepts of innovation in the business model has helped Apple to enhance its reach globally throughout different parts of the world. In other words, it becomes very important to understand the desired importance and concepts of innovation as it helps in enhancing the development and growth of the firm (Amit and Zott, 2012). Furthermore, Dell is another firm which manufacturers the personal computers and it has innovated its products be reducing the cost prices and modify the features as per the needs of the customers and this has helped in extending the barriers of the firm to a large area of the market segment (Taran, 2012). There exists crucial need to enhance the built-in procedures and reducing the operational costs as to maximize the profit of the concerned organization. There are three of the vital points which need to be identified before innovation gets to be conceived; they are the uniqueness of the idea, thinking of having superior knowledge regarding technologies and thinking that success comes with bigger ideas. Some of the best examples from the market segments are Nokia' do not gets changed and stick to its own strategies and therefore the firm suffered a loss whereas Samsung' changed as per the market requirements and brought up the desired change and increase its rate of profitability throughout the concerned market areas. As for example, innovation-led business processes mainly focuses on initiation, integration, and ideation along with the implementation of the selected idea. IKEA is one of the leading firms in the field of furniture making and this company has enhanced the overall performance of the firm by implementing the concepts of business model innovation. The company is engaged in providing stylish and latest design of furnitures in order to capture a wide area of the market segments. Moreover, the company uses the concepts of innovation as to increase the desired rate of profitability in a wide area of the market segments. There are different categories of people having different incomes and therefore adoption of the innovative ideas will facilitate the growth of the firm selected. Pankaj Ghemawat: CAGE framework CAGE is the desired framework developed by Pankaj Ghemawat basically based on the economic trade opportunities of different international countries concerned. The framework is essentially shaped facilitating four dimensions like C for Cultural, A for administrative, G for Geographic as well as E for economic (Ghemawat, 2013). The basic ideas behind these dimensions are not only up to the trade interactions bus various other interactions revealing the differences which critically exists behind these dimensions throughout the different countries. This process can be enhanced along with the similarities with these dimensions (Ghemawat, 2015). If one is thinking to have merchandise trade then the two companies should have common borders, same per capita income then it can be expected that these two concerned countries can trade 10 to 15 times much with one another. Basically, the framework helped in evaluating that the trade needs to follow some rules in order to enhance the effectivenes s of the trade between these countries (Ghemawat and Altman, 2016). The impact of this framework is large and the utility is rather than simple discussions as per many of the countries are concerned. There are several dimension that helps in understanding that why Canada is still the bilateral trading partner of US presently. Though, it is one of the 10th economies throughout the world and therefore it follows the CAGE framework and therefore, in order to enhance the effectiveness of the trade practices the two of the countries concerned should understand the desired elements of the CAGE framework. As for example, Canada and U.S are the two of the countries that trade with each other and stood cup on the CAGE framework. Therefore, it becomes more important for any of the firms to understand that the countries with which the origin country is going to share the trade should have the common borders or should have common language or they should stand on the cage framework as it helps coin increasing the rate of profitability for the entire trade practices (Ghemawat and Altman, 2016). The cultural differences or the similarities are of great importance and these needs to be evaluated on a large scale as this helps in increasing the trade practices to a large extent. The economic and the geographic conditions generate enormous impact on the execution of the trade and the business practices and therefore, it becomes very important to understand the role of these two dimensions. References Amit, R. and Zott, C., 2012. Creating value through business model innovation.MIT Sloan Management Review,53(3), p.41. Ghemawat, P. and Altman, S.A., 2016. 6 The distance at the Industry and Company Levels.The Laws of Globalization and Business Applications, p.159. Ghemawat, P. and Altman, S.A., 2016. 7 Distance and International Business Research.The Laws of Globalization and Business Applications, p.200. Ghemawat, P., 2013.Redefining global strategy: Crossing borders in a world where differences still matter. Harvard Business Press. Ghemawat, P., 2015. From International Business to Intranational Business. InEmerging Economies and Multinational Enterprises(pp. 5-28). Emerald Group Publishing Limited. Gobble, M.M., 2014. Business model innovation.Research-Technology Management,57(6), pp.58-61. Massa, L. and Tucci, C.L., 2013. Business model innovation.The Oxford Handbook of Innovation Management, pp.420-441. Taran, Y., 2012. Business model innovation.