How to win the competition in business

OUTLINE: I. Introduction II. Main content 1. The definition of competition 2. Competition advantages and disadvantages 2.1. Advantages: Competition drives innovation and quality It leads to collective learning It emphasises customer’s role 2.2. Disadvantages: The playing field isn’t level For instance, small companies often face many disadvantages as limited resources and lack of bargaining power with vendors Market share is divided among many 3. Types of competition 3.1. Based on the market participant People divide competition into 3 types: + Competition between sellers and buyers + Competition between buyers + Competition between sellers 3.2. Based on economic area People divide competition into 2 categories: + Competition within the industry + Competition among sectors 3.3. Based on the level and nature of competition in the market People divide competition intio 3 types: + Perfect competition + Imperfect competition + Monopolistic competition 4. The current competitive situation of businesses in the market The business market in the world is always fierce competition in all sectors. In Viet Nam, after the reform, the competition is more intense than ever. 4.1. The war between big businesses 4.2. Small and medium businesses in the fierce competition (For example) 5. Analyse the competitive environment 5.1. The first is competitive pressure from customers 5.2. The second is the power of supplier 5.3. The third is current competitors 5.4. The fourth is trends in alternative products. If a business wants to win the competition, they should have some important strategies as: 6. Identify brand 6.1. The concept of brand 6.2. Why do businesses have to identify their brand? 6.3. Brand’s role in the business 6.4. How do businesses identify their brand? 6.5. For example 7. Identify competitive advantages 7.1. The concept of competitive advantage There are basically three key areas to focus on when choosing a competitive advantage: Quality: Offer a superior quality than others Price: Offer the lowest price Service: Offer an unforgettable customer service 7.2. Give an example of Apple, a well known company around the world with extremely competitive strategies that no competitor can keep up with. 8. Creat a good relationship with your customers How to creat a good relationship with customers? 8.1. Leave a good impression in the first time 8.2. Stay calm respect your customers 8.3. Always listen to what the customers say 8.4. Get wrong and collect 8.5. Inspire customer loyalty 8.6. Membership card 8.7. Generating incentives, discounts,etc… 9. Advice III. Conclusion

GROUP:3 - CLASS: 1740ENTI2411 Thuong mai University TOPIC: “How to win the competition?” MEMBER: 1 2 3 4 5 6 7 Nguyễn Thị Xuân Quỳnh Lê Hà Thu Hoàng Thị Thủy Phạm Thị Sang Sùng Y Thanh Phạm Thị Mai Vũ Thị Hồng Nhung OUTLINE: I II 1 2 3 Introduction Main content The definition of competition Competition advantages and disadvantages 2.1 Advantages: - Competition drives innovation and quality - It leads to collective learning - It emphasises customer’s role 2.2 Disadvantages: - The playing field isn’t level For instance, small companies often face many disadvantages as limited resources and lack of bargaining power with vendors - Market share is divided among many Types of competition 3.1 Based on the market participant - People divide competition into 3 types: + Competition between sellers and buyers + Competition between buyers + Competition between sellers 3.2 Based on economic area - People divide competition into 2 categories: + Competition within the industry + Competition among sectors 3.3 Based on the level and nature of competition in the market People divide competition intio 3 types: + Perfect competition + Imperfect competition + Monopolistic competition The current competitive situation of businesses in the market The business market in the world is always fierce competition in all sectors In Viet Nam, after the reform, the competition is more intense than ever 4.1 The war between big businesses 4.2 Small and medium businesses in the fierce competition (For example) Analyse the competitive environment 5.1 The first is competitive pressure from customers 5.2 The second is the power of supplier 5.3 The third is current competitors 5.4 The fourth is trends in alternative products - 4 5 If a business wants to win the competition, they should have some important strategies as: 6 7 Identify brand 6.1 The concept of brand 6.2 Why do businesses have to identify their brand? 6.3 Brand’s role in the business 6.4 How do businesses identify their brand? 6.5 For example Identify competitive advantages 7.1 The concept of competitive advantage There are basically three key areas to focus on when choosing a competitive advantage: Quality: Offer a superior quality than others Price: Offer the lowest price Service: Offer an unforgettable customer service Give an example of Apple, a well- known company around the world with extremely competitive strategies that no competitor can keep up with Creat a good relationship with your customers - 7.2 8 How to creat a good relationship with customers? 8.1 8.2 8.3 Leave a good impression in the first time Stay calm- respect your customers Always listen to what the customers say Get wrong and collect Inspire customer loyalty Membership card Generating incentives, discounts,etc… Advice Conclusion 8.4 8.5 8.6 8.7 9 III How to win the competition? I Introduction Today we would like to present to you topic :”How to win the competition?” As you all know, in the marketplace, competition always exists Everyone often says :” Marketplace likes battlefield” Indeed, competiton is always fierce in business Business is a game and only the team with the best players will win So how to win the competition and why do businesses want to win the competition ? We will together find out the answers for these questions II Main content 1 The definition of competition: In economics, "competition" is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion 2 Competition advantages 2.1 Advantages: and disadvantages: Competition drives innovation and quality: Competition puts pressure on providers to constantly research, innovate and upgrade the quality of their products and services If businesses fail to identify emerging trends and changing preferences in the marketplace, competitors can capture market share This makes businesses develop far stronger in the market It leads to collective learning: In some cases, the best way to learn is to watch other successful businesses perform In fact, some companies use secondmover strategy based on observing what first-mover companies do to succeed and trying to upgrade their products It emphasises customer'role : Customer service and relationships are one of the major elements of 21st century competitive strategy Customers play an important role in development of businesses It causes companies to invest time and effort in research and in relationship management processes so as to strengthen loyal relationship 2.2 Disadvantages: The playing field isn't level: Though clever business leaders find ways to use strengths and offset weaknesses, restrict competition But small companies often face many disadvantages as limited resources and lack of bargaining power with vendors, for instance Market share is divided among many: The limit of competition is the reality of sharing customers with other providers With open competition, every provider has some level of market share, so it is virtually impossible for a single provider to earn 100 percent of what customers spend on their products and services 3 Types of competition 3.1 Based on the market participant People split the three types: -Competition between sellers and buyers :The competition is under the "law" buy cheap expensive Buyers always want to buy cheap, whereas sellers always want to sell expensive This competition is made in the process of bargaining and eventually the price is formed and the sale action taken is taken -Competition between buyers: Is the competition on the basis of supply-demand rules When a certain kind of goods and services whose supply is less than the consumer demand, the competition becomes drastic and the price of the service will increase The end result is that the seller is profitable and the buyer loses some money -Competition between sellers: This is the toughest and most fierce competition, it is vital for any business As commodity production grows, the number of sellers increases, the more aggressive the competition is because every enterprise wants to gain competitive advantage, gain market share of the competition, The win in this competition is increased sales, increased market share and along with increased profits, increased investment and expanded production 3.2 Based on economic area: People divide competition into two categories: -Competition within the industry: Is a competition between businesses that produce or consume certain goods or services In this competition there is mutual annexation Winning businesses will expand the scope of their activities in the marketplace Losing businesses will have to shrink business even to bankruptcy -Competition among sectors: Is the competition among business owners in different economic sectors, to gain the greatest profit In the course of this competition, business owners are always fascinated with profitable investments, which translates capital from less profitable to more profitable 3.3 Based on the level and nature of competition in the market People divide competition into three categories: -Perfect competition: Is a form of competition where there are many sellers, small buyers, none of them large enough to by their actions affect the price of services That means no matter how much production they can make, they can all sell their products at current market rates So a firm in a perfectly competitive market has no reason to sell cheaply than its market price Moreover, it will not increase its price higher than the market price because otherwise it will not sell anything The group of participants in this market is the only way to adapt to the price, because the supply and demand on the market are free to form, the price to market determines the quantity demanded by all Supply can provide For the perfect competitive market, there will be no artificial supply and demand, not restricted by public administrative measures So in this market the market price will gradually reach the cost of production -Imperfect competition: If a firm can significantly influence the market price for its output, it is listed as "imperfect competition firm" so imperfect competition is competitive in the market Not identical Each type of product may have a variety of different brands, each with its own image and reputation, although the quality of the difference between the products is negligible Trading conditions are also very different Sellers can compete with each other to attract customers towards them in a variety of ways, including advertising, promotions, price incentives before, during, and after the purchase This type of competition is very popular in the current period -Monopolistic competition: Is competition in the market where some sell some homogeneous products or many sell a heterogeneous product They can control almost the entire quantity of products or goods sold on the market This market has a mix of monopoly and competition called monopolistic competition, where competition between monopolies occurs The conditions for entering or withdrawing from the monopolistic competition market are more constrained due to large capital or capital 4 The current competitive situation of businesses in the market The business market in the world is always fierce competition in all sectors because every business is trying to get high market share In Vietnam, after the transition from a command economic system to a market economic system, the competition is more intense than ever The process of opening up international economic exchanges has enabled foreign investors to enter the domestic market, bringing many goods of high quality and beautiful designs to meet the needs of consumers Goods are more diverse, many types, consumers can choose goods in a variety of different goods 4.1 The war between the big businesses Large businesses always have more customers than small and medium businesses In many fields, we can see the fierce competition between big companies: the race of apple-samsung in mobile phones production, kfc-lotteriaMcDonalds battle in the fast food market, honda-toyota-suzuki in the field of motorcycle production, etc The market in Vietnam is very potential So the battle between the big business also came to Vietnam, including domestic and foreign enterprises Foreign businesses mainly occupy the market of goods which can not be produced in Vietnam such as cars, mobile phones and computers However, many commercial businesses in Vietnam have succeeded by choosing to distribute these products instead of producing them, some big businesses such as thegioididong, dien may xanh, tran anh, fpt shop Although competition is fierce, many Vietnamese enterprises have succeeded, such as the race between two viettel and vinaphone companies in the field of mobile networks; or competition of bitis sports shoes with two world famous brands are nike, adidas 4.2 Small and medium businesses in the fierce competition About 98% of the total number of enterprises, small and medium enterprises (SMEs) play a very important role in the Vietnamese economy, contributing about 43.2% of GDP, 31% of exports, 29% of National budget revenue, creating jobs for more than 5 million people However, in reality, SMEs still faces many challenges in competition and Economic integration The statistics by the General Statistics Office show that about 20% of SMEs are active and competitive, 60% of SMEs are struggling to survive, 20% SMEs have been stopped working Investment capital for new technologies is very low Quality doesn’t meet the international standard Businesses do not have business strategy but still mainly based on experience, business follow the trend Product network is very narrow Management level of SMEs is limited SMEs in Vietnam are competing in unequal conditions, so maintaining and developing the Vietnamese brand is also difficult 5 Analyse the competitive environment 5.1 The first is customer pressure Business customers are those who have demand for products (services) provided by the business For every business, the customer is the market of the business A customer for a business is not just a current customer but also a potential customer The number, customer structure, size of demand, motive of purchase, tastes, requirements are factors to consider in strategic planning Pressure from customers forced businesses to consider when studying the internal environment of the industry This is the force that creates the bargaining power of the buyer Buyers can be viewed as a competitive threat when they force businesses to reduce prices or require higher levels of quality and better service Conversely, weak buyers will give the business an opportunity to increase the price to earn more profit Customers include end consumers, distributors and industrial buyers 5.2 The second is the power of the supplier This is a force that affects the business and is considered a threatening pressure when they are able to increase the price or change the quality of the inputs they provide to the business In a nutshell, strategic planners must find the risks and opportunities from the supplier to have the right strategy 5.3 The third is current competitors Current competitors are companies operating in the same industry as businesses If the competition is weak then the business will have the opportunity to increase the price and make more profit and the business can implement the strategy of expansion On the contrary, as the stronger the competition, the price competition is significant and it is best to maintain stability avoiding price war 5.4 The fourth is trends in alternative products Alternative products are other products that can satisfy the needs of consumers However, it has many different features than the replaced product This is an opportunity and also a threat to the business requires enterprises to have reasonable strategy for their products For example: The development of the beverage industry has a huge impact on the business of traditional beverage products If the substitutes for the products of the industry are available then customers may switch to alternative products if the existing enterprise has a higher price The determinants of the threat of alternative products are: the price and relative utility of alternative products, transfer fee for customers, customer alternative To win, businesses need to know their strengths and weaknesses as well as those of their competitors Know themselves is no longer sufficient in the competitive market According to Sun Tzu, the ancient author of the Art of War: “If you are ignorant of both your enemy and yourself, then you a fool and certain to be defeated in every battle” No matter how businesses think they know about their business, no matter how much experience they have in their chosen field, without a clear understanding of the competition in the market, they might as well be driving blind To beat the competitors will require everyone’s collective effort It’s not just a task for the marketing department or top manager, it’s everyone’s responsibility No business can survive for a long time without some forms of competitive advantage We must target whether it’s a sustainably competitive advantage or not Because if they don’t, they can’t last their company’s life span more than their first year in business Therefore, if a business wants to succeed, they should have some important strategies as: 6 Identify brand 6.1 The concept of brand Branding is a name, term, symbol, symbol, or design, or combination thereof, to format the goods or services of a seller or a group of sellers to distinguish them from the competition compete 6.2 Why do businesses have to identify their brand? Make differences When you have created your own brand, it is a powerful tool to differentiate you from your peers and competitors Bring specific benefits in the short and long term such as better jobs, stability, increased income, expanding business When you have a well-known brand, you will naturally have more opportunities in your field of activity Increase competitiveness When the brand is identified Businesses will attract and attract customers, create internal resources for employees; Create trust and unity of shareholders; Create gravity with partners Improve business efficiency, sell more products, services and sell at higher prices Increased customer loyalty to the brand Easily overcome the risks that arise in business 6.3 Brand’s role in the business First, building a strong brand gives the business a tremendous advantage, not only because it creates the image of the product and the enterprise, but it also has important significance in creating the prestige of the product, promote the consumption of goods and be a sharp weapon in the competition Second, with a strong brand, consumers will have confidence in the products of the business, will be reassured and proud to use the product, loyalty to the product and so the stability of the customer The present is very high Third, with a strong brand name, businesses will have a strong foothold in the fierce market price competition, product distribution, attracting investment capital, attracting talents Fourth, branding is the decisive factor when choosing to buy, because the brand gives them peace of mind about origin information, trust in product quality, save time searching for information Believe, reduce risk Therefore, if you want to dominate the market and develop production-business, you need to invest in building and developing the brand Thursday, a strong brand can increase profits and dividends 6.4 How do businesses identify their brand? 3 ways to identify the brand: Access by cost The cost approach is based on the accumulation of branding costs since the beginning, such as advertising, promotion, creative campaigns, fees, posting costs Sign the mark Income approach The approach is based on the current value-for-money methodology, which aims to measure the economic benefits of the brand in generating a future flow of revenue or cash flows Market access, which evaluates the brand value by considering whether the buying and selling activities on the market affect similar brands 6.5 For example: Apple identifies brands with logos, images and images Customers distinguish apple from other brands with the missing apple image Apple involves high quality products using innovative technologies based on creativity and imagination 7 Identify competitive advantages 7.1 The concept of competitive advantage A competing advantage of business is its advantages,characteristics,or variables of the product or its brand,which,thanks to them,create some superiority and superiority over the competing ones Jack Welch,the former CEO of General Electric was right when he said “ if you don’t have a competitive advantage,don’t compete” In other words,don’t bother getting into the game if you haven’t first figured out a plan on how to win There are basically 3 key areas to focus on when choosing a competitive advantage: Quality: you can choose to beat the competition by offering a superior quality than others Price:you can choose to beat the competition by offering the lowest prices Service: or you can choose to beat the competition by offering an unforgettable customer service Most of the time it is not so easy to measure up well on all three key areas However,it’s important to include service in any of the combinations you want to focus on Why? The other two forms of competitive advantage can cost you a lot of and often time customers can choose otherwise There’s always an atternative to quality,if you focus on only offering the highest quality at a premium price,customers will scout around for a lower quality at a cheaper price There’s always an atternative to price,if you focus on offering the cheapest price possible it will require that you find a way to drive down your cost to the barest minimum And this can turn out in form of low quality products or service and customers will start to complain So what do you do? Pick either of the two;price or quality as your competitive advantage and complement it with service Without the element of service in your competitive strategy you can never deliver happiness to your customers People may not remember how great your product or service is quality;they may not remember how much you made them pay(price),but they wil never forget how you made them feel(service) You see it is possible for your competitions to copy your products or services just in our case they copied our pricing plan,timer,banner etc But they couldn’t copy the way we treated our customers and the spirit and attitude of our wokers Our greatest strength was hospitality They just couldn’t beat the way we made our customers feel whenever they visited our cybercafé And when we surveyed our customers,asking them what made them stick to us They kept saying the way we treated them was exceptional In our case we chose quality and service as our competitive advantage Our competitive strategy was simple;treat people Right,make browsing fun and fast From the outset of our operation we never made price an issue We came up with our own unique pricing planthat altered the pricing model of the industry We had air time as low as 30 naira and as high as 200 naira We were very flexible,buy as your pocket allows But we never compromised on quality and service In fact,we were the only cybercafé that compensated customers every time the quality of our internet service/link dropped below certain expectation If our generatior malfunctioned,we gave out compensation tickets,sometimes we even went as far as given customers back their money At other times,we would completely replenish the tickets of our customers anytime we had unforeseen power problems not minding how much of the air time they had used already We believed we were totally responsible and to be blamed for any interruption in the quality or reliability of our service We followed a simple philosophy:” when you fuck up,treat your fuck up yourself,never pass the blame on the customers!” 7.2 Secondly,an example of Apple,a well known company around the world,with extremely competitive strategies that no competitor can keep up with First of all,an advantage of Apple is that it is a perfect business strategy based on vertical alignment when the Apple trees spend heavily on the supply chain This process help Apple handle large amounts of inventory at every launch without worrying about high inventory;allowing a company to be constantly criticized for selling higher priced products than any competitor could still earn 25% on each ipad Apple is carrying more than $ 80 billion in cash and investing : Apple plans to double the cost of capital for its supply chain to $ 7,1 billion in the coming year, $ 2,4 billion to prepay for major vendors The strategy is to ensure availability and low prices for Apple,and to limit the ability of all other competitors ‘ before the iphone4 was launched in June 2010, the HTC could not buy the desired number of screens because the manufactures were busy completing Apple ‘s orders,’ a HTC official said To create ipad2,Apple also bought several high-end boring machines to make the case inside the device,forcing other manufactures to wait six weeks to six months to buy the machines Secondly,Apple is always ahead of the opponent one step in terms of technology,overcoming weakness to become a strong point Apple does not produce components themselves but always has the best ingredients from partners Apple is extremely wise not to spend money to invest in building factories or producing large quantities of components that spend money on purchasing the right to use the products for a certain period of time ( 6 to 36 month) and then the right to a discount First of all,Apple can own the latest technology and equipment in front of its competitors monthly or yearly And this advantage has made it hard fo Apple products to be copied in the early stages Remember when the iPhone was launched,not any manufacturer can launch the device with touch screen phone sensitivity and smooth as the iPhone Second,even though competitors can catch up on technology,but with the money to buy “ privileges”,Apple has got a deal that allows it to own components at discounted rates certain So,even if the goods are not new,Apple has the advantage of buying goods at cheap prices Thirdly,Apple is always innovative and constantly innovating, in just adecade,Apple has created five cannons that radically change the face of innovation in the tech world: 1/ipod: the trendy mp3 player that started Apple’s era in the technology market 2/itunes: great software with powerful business model,enough to persuade users to pay idd the manufacturer provides affordable music and friendly interface 3/iphone: although it has been around for near ten years,this smartphone,which is called “the phone of the gods”-has not found a match 4/the appexchange: the first online marketplace for cloud computing applications 5/the apple store: this is probably the quietest revolution of Apple At present nearly 2 billion usd worth of goods have been traded through Apple’s revolutionary shop system Apple products have extremely high security When it comes to Apple,consumers will not have to worry about their privacy For exemple,when you own an iPhone,you will have an iClould account for all your information,contacts,games,pictures, event if you lose your phone,connected to the computer,can still get them and and find your phone with the iPhone app Finally,another advantage of Apple is that the product line beautiful,unique,colorful,many applications For example,before the Apple iphone has only two colors of monochrome is black and white,now has more color,yellow color look extremely luxurious Apple brings a sense of confidence,fresh for the user,although today there are many well-known brands such as Oppo,Samsung,Htc,Sony,Huawei,…and the price of a new iphone was not cheap but customers still choose iphone,because the beauty it brings is irreplaceab In the near future,Apple launches the red excellence ip7plus product that makes customers expect each and every day to own it 8 Creat a good relationship with your customers Maintaining close relationships with customers is critical to successful business growth In the age of automation and innovation throne, customer care has never been more important At any time, a dissatisfied customer can share their views exasperated through social media channels and company websites and negatively impact the business Building a bond between the company and its customers can increase efficiency Word of mouth marketing - the most effective marketing method So, how to create a good relationship with customers ? 8.1 Leave a good impression in the first time: Satisfaction is one of the most important factors in customer service Customers are always attracted by attractive offers from different suppliers They not only prefer to buy goods at reasonable prices but also easily "overwhelmed" by the quality of service If you want to be one of the best customer service companies, set up a customer-centered culture Here are suggestions for denaturing customers: 8.2 Stay calm - respect your customers: In any case, the customer is always right It is the principle that helps the company grow, from customer service to user experience and ultimately product development ⅓ The interviewees said they had to undergo rudimentary customer care from brands at least once and 58% of them would tell their friends This is how oral marketing can hurt a company's reputation in the long run Respecting the customer's mood is essential when they have trouble with the company Keeping calm is key to attracting customers to the trouble they are having At the same time, this creates the opportunity to solve the problem and make them feel more comfortable The more comfortable a customer is, the more likely they are to share positive feedback about your company with those around you 8.3 Always listen to what the customer says: If not listened to and shared with each other, surely a relationship can hardly become tight For your customers, too When dialogue with customers becomes very easy through a variety of online support tools, you need to learn how to actually listen When listening to customers, consider changes the company can make based on feedback and follow them Customers are the "blood vessels" of the business, so if you refuse to address the appropriate requests from them they will cause unnecessary "blockages" 8.4 Get wrong and correct : Nothing is perfect, there will be times when you make others angry The longer the time for you to perceive mistakes and fixes, the greater the risk of broken relationships Sometimes, customers will experience the experience is not perfect even anger Quickly apologize to customers, take responsibility and find solutions to their problems Over 82% of our customers share: the most important factor determining the perfect experience is the ability to solve the problem quickly and in a timely manner You can also consider a "compensation" for customers such as refund, free shipping, discount voucher for the next transaction 8.5 Inspire customer loyalty: Customer loyalty can be considered a "fuel" for business growth It is made up of the connection between the customer and the product and the whole business, not simply the desire for momentary price - a competitive element that any competitor can copy However, if the "cohesion" has to come from two sides You must prove your loyalty before the expectation is received So what's the best and most direct way to show your brand's commitment and inspire your customers to stay with you for a long time? 8.6 Membership card: The main objective of this program is to make buyers more engaged with the brand, making a loyal customer This type will be very suitable for cafes The program is often encouraged to make membership cards This is a great gift form, hitting on the psychology of "receiving gifts" of customers Starbucks Coffee has a very famous loyalty program When members make a purchase and pay with the Starbucks app on their phone, they will receive rewards that can be converted into free drinks or food Starbucks has a simpler customer hierarchy, consisting of two levels Green Level and Gold Level Green Card campaign encourages customers to spend more ($ 1 each is given 2 stars) In particular, customers can pay by mobile phone extremely convenient and secure (loyal customers of Starbucks will recharge the account to make purchases) Gold cards for customers have accumulated 300+ stars, which means they spend a lot on the brand They get a personal Gold Card, get rewards faster, even have days they get double the bonus points compared to normal 8.7 Generating incentives, discounts, etc: Not only help customers remember your store and have a good impression, but also stimulate them to buy more to accumulate points and receive larger promotions This will greatly increase your loyalty This mode is quite effective for businesses that focus on customer service Businesses often offer discounts to loyal customers to encourage them to continue using the company's services or special promotions such as "buy $ 100 get 15% off on subsequent purchases.” For example, Highlands Coffee - a strong competitor of Starbuck choose the strategy of discount, regular promotions to attract customers rather than go the way of the opponent 9 Advice If a business can beat their competition, they will have more market shares, that means more customers, that means more sales and more profit Keeping an eye on competitors is a sound business strategy That will not only helps them make more exactly decisions, but will also help them stay ahead the competitor However, the truly sustainable competitive advantage of a company doesn’t come from a particular product or service (outcome), but from a particular kind of company (source) So, what is a truly sustainable competitive company? Firstly, a company that is capable of come up with superior value proposals in their chosen field Secondly, a company that is capable of continuously rising in the war in the fierce marketplace And finally, a company that can consistently perform itself and continuously launch a line extension although other competitions haven’t yet caught up with its existing superior products/services Remember that, outcomes can always and will always be copied, it’s all a matter of time Great companies are aware of this brutal fact and that’s why they choose to keep outdoing themselves rather than trying to outdo the competition (Advice) III Conclusion To win the competition in the fierce market, competitive strategies play an very important role No business can survive for a long time without some forms of competitive advantage Businesses always have to compete with others to exist But instead of trying to outdo the competition, they should keep outdoing themselves ahead To start to establish a truly sustainable competitive company The secret of winning is always be ahead and let your competitions catch up ! BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC THƯƠNG MẠI CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập – Tự do – Hạnh phúc ****************** BIÊN BẢN HỌP NHÓM THẢO LUẬN Lớp học phần: 1740ENTI2411 Nhóm: 3 Đề tài thảo luận: “ How to win the competition?” Thành viên: 8 9 10 11 12 13 14 Nguyễn Thị Xuân Quỳnh (Nhóm trưởng) Lê Hà Thu Hoàng Thị Thủy Phạm Thị Sang Sùng Y Thanh Phạm Thị Mai Vũ Thị Hồng Nhung (Thư ký) Thời gian họp:……………………………………………………………………… Địa điểm họp:……………………………………………………………………… Tiến trình phân công nội dung thảo luận: ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… ……………………………………………………………………………………… Hà Nội, ngày… tháng… năm… Nhóm trưởng ký ... battlefield” Indeed, competiton is always fierce in business Business is a game and only the team with the best players will win So how to win the competition and why businesses want to win the competition. .. annexation Winning businesses will expand the scope of their activities in the marketplace Losing businesses will have to shrink business even to bankruptcy  -Competition among sectors: Is the competition. .. How to win the competition? I Introduction Today we would like to present to you topic :? ?How to win the competition? ” As you all know, in the marketplace, competition always