Distinctive Competency
Distinctive competency can be defined as the power, qualities, features, ability and resources that help to differentiate one organisation or business from its competitors. If the strength of an institution is greater and exclusive, an unbeatable competitive advantage is created.
it can also be described as a load of unique potential possessed by a particular organisation that enables it to venture to its target market and achieve advantage on competition. Distinctive competency is a huddle of unique skills owned by a firm and could have bee be gotten from tits initiators or its many years of strive (Hitt & Ireland, 156-98).It’s simply a movement which is better compared to those of competing firms. For a firm’s competence to be defined, those managing it need to conduct an assessment of its interior and exterior surroundings. Distinctive competency can be possessed in different fields in a firm such as administration and advertising departments. The competence of an organisation can be enhanced by employing qualified workers, producing high quality goods and having high technology equipments than those of them competing firms, advanced promotions, etc(Stoner, 145-78).
The first Wal-Mart retail shop was opened in 1962 by its initiator; Sam Walton. It has since grown to be one of the largest stores all over US. From a signal retail shop, it now has about 3300 and is worth about 125 billion US dollar. The customers remain to be its main stakeholders and create as bigger part of its success. Its distinctive competency has been brought about by many of its unique features and strengths. For example, it concentrates on its customers and ensures that they get what they desire at the right time and convenient value.
This is because most customers are in search of affordable goods everyday. its also very passionate to satisfy a customer’s want in the best way possible. Wal-Mart offers regular stock thus everyone has something to buy from the store as long as they can afford it. Due to its well establishment and popularity, any investor would be glad to be part of it by investing in it (Stoner, 145-78). A major strength possessed by Wal-Mart is its low costs. Its prices can rarely be beaten by any other competing store.
Most consumers will go around looking for a store which beats the others in terms of prices. “By lowering mark-up, they will earn more because of increased volume, thereby bringing consumers added value for the dollar everyday” (Prahalad, & Gary, 79-91).Its other strength is the unique good service for their customers. Any demand made by a customer must be looked into before the sun sets. Not forgetting that a customer must be served as soon as he/she comes to about 9 feet to any of its employees.
Lastly, another of its unique qualities is that it is committed in supporting the community. It has various community outreach activities and projects that aim at helping the society. “Wal-Mart recycles over 700,000 tons of cardboard, paper and plastic each year.” (Prahalad, & Gary, 79-91). One of its unique strength is its skills at inventing, revising and modernising its models in the market. Also its low cost for its products which gives the company an advantage over its competitors.
Honda would be willing to miss out some profit for it to expand its market share. Its expertise in engines and models helps it to soar above and be the best among others (Hitt & Ireland, 156-98).Baruch college, New York.Its the largest school of business studies in the whole of America and accommodates only the best graduates all over the world and dates back to about 160 years of distinction. This has been gotten from the college’s exceptional students, its high quality facilities, its exceptional expertise in research and academic work (Hitt & Ireland, 156-98).
This college also supports various educational and community programs which adds to its popularity. it has an exceptionally equipped library and high technology that can be rarely beaten by other institutions hence their students end up being the best in the market.
