Companies looking to compete on differentiation can do so in two ways. This chapter explains what it takes for a business to set itself apart, including methods for identifying and highlighting unique features.
Nearly all midsize businesses engage in some competitive strategy planning, whether they prioritize quality, cost leadership or another differentiator; financial partners, however, are not deeply involved in the process.
New technology is taking the logistics industry by storm—and revolutionizing the way shippers, third-party logistics providers and transportation companies operate.
Not many businesses cite focus as their primary competitive strategy; however, honing in on and optimizing a target market can be a smart approach. Learn more about the effectiveness of this strategy.
Defining and promoting your company’s purpose are important steps for all companies. For key Do’s and Don’ts in the pursuit of a higher mission, refer to our section on finding your business’s purpose.
In the race to beat out the competition for a bigger market share, many midsize business owners are putting their money on quality.
Earning a profit in the airline industry has never been easy, and customer satisfaction can be hard to come by. This case study on cost leadership illustrates how Southwest Airlines has been able to achieve both.
Savvy business leaders are finding that a narrower company focus can often widen profit margins. Here’s how.
Nearly three decades ago, Harvard Business School Professor David Garvin took on the idea of “quality,” applying a scholarly framework to this slippery—but essential—element of strategic analysis.
An international IT company reduced costs and increased revenues by demonstrating how its employees could address client needs. Here’s how.
Quality is the primary competitive strategy of midsize businesses. Here are the outcomes businesses look for when implementing a competitive strategy with a focus on quality.
Social media strategies boost online sales for small business.
Investing in competitive strategy can help give companies an edge and ultimately drive higher profits. Whether your business chooses to focus on quality, cost leadership, differentiation or something else, this guide will help you thrive.
Financial confidence is about aligning your spending and saving with your values. The Momentum onUp program takes a personalized approach to finances, based on what’s most important to you.
Finding and retaining good workers isn’t easy in today’s competitive job market. For better results, companies should rethink their hiring strategies, considering future needs instead of focusing on specific jobs and skills.
Discover how modern accounting software can help you learn to identify and analyze market segments that can help drive growth and profitability in your business.
Join Dennis Stough, SVP of Wholesale Dealer Services, as he discusses the importance of a long-term plan for dealer services after the previous era of steady growth. Learn SunTrust’s six essential components for dealers to consider in developing successful strategies.
Add value to your products and services and adjust prices to meet sales goals, maintain market position and keep profits flowing. Learn about five approaches to capture added value that can help protect your profits while opening new avenues for revenue.
Here's some advice most companies don't hear often: Limit your customer base.
Across industries, companies are spending an increasing amount on digital marketing. Here’s what you should know.
A guide to the benefits that matter most to employees and how you can optimize your benefits program.
Cost leadership is a focus of competitive strategy for nearly 40 percent of midsize businesses. If you want to set your business apart from the rest, here are a few essential ideas to keep in mind.
SunTrust shows you how keeping a close eye on expenses can improve your profitability.
Focus is not a key component of many businesses’ competitive strategy, but its impact shouldn’t be overlooked. Optimizing a target market by answering key questions can have a positive ROI impact.
SunTrust identifies five key areas on which businesses can focus as an on-going process to optimize their performance.
Jim Tompkins, CEO of Tompkins International, explains how your business can adapt to meet the needs of an evolving supply chain.
Is your supply chain optimized for the future? Jim Tompkins, CEO of Tompkins International, explains what you can do now to prepare.
Employee engagement is a major issue for manufacturers. By involving employees in setting business objectives however, manufacturers can achieve better engagement and higher profits.
Supply chain network design, network design best practices, network design and management, small business network design, network design examples.
SunTrust shares expert tips for business philanthropy that allows your company to give back and enhance its brand.
A strong mission statement can improve morale, boost your company’s bottom line and change the world. Elizabeth Crook, CEO of OrchardAdvisors.com, creates professional mission statements for business owners and shares tips for finding a company’s purpose.
New construction is a well-known indication of growth, but did you know electricity usage, retail sales and the local housing market can provide insights about how to run your business? Watch this video to learn more.
After losing a large customer, these business owners found a way to expand their customer base.
Making investments in the business helped Marjon Specialty Foods grow its customer base.
With expansion top of mind, here is how to expand your business in the coming years—and what obstacles you may face along the way
U.S. business investments in equipment and software are expected to hit new highs in 2016, but how many of those dollars are being financed through loans, leases and lines of credit?
SunTrust explores current trends in global trade, global consumption and growing economies.
Our Lady of the Lake University professor D. Anthony Miles explains how employing the right variant of focus strategy can help boost your business’s effectiveness.
Emory University professor Douglas Bowman explains how a business can ensure a flagship product’s quality becomes a differentiating factor in highly competitive markets.
How to use Employee Stock Option Plans (ESOPs) for a specific goal: transition to a new management team, increase employee participation, create owner liquidity, or add leverage to the company at favorable tax rates.
SunTrust examines the increasing ease of access to foreign markets access to delivery channels and understanding foreign business environments.
Roughly 40 percent of midsize businesses have made quality a focus of their competitive strategy, and more than half of these companies are using brand recognition to compete on the quality factor.
Cost leadership is a focus of competitive strategy for nearly 40 percent of midsize businesses. For five ways to become a cost leader and more, read our section on the Cost Leadership strategy.
Nearly half of midsize businesses have prioritized innovation as an element of competitive strategy. Learn how your company can take innovation to the next level and stand out in today’s market.
The majority of midsize businesses cite quality as the primary focus of their competitive strategy. Learn how your company’s commitment to quality can help you maintain a competitive edge.
Adding a new product to your company’s offerings can lead to greater profits—but only if you do your homework. Jay Berkowitz, CEO of TenGoldenRules.com, shares the key steps for a successful product launch.
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