Assignment Content Elntroduction : In the previous session we looked at corporate level and business level strategies. This week we will examine functional level strategies. We will see how managers at this level ofa firm contribute to the achievement of corporate goals and objectives through improving responsiveness to customers, improving efficiency, improving innovation and improving quality. Written Assignment #2: Using the textbook information and course notes on creating a competitive advantage (see Figure 9.1 on p. 247), identify a product that clearly outpaces its competition. Use the four ways shown in the diagram to explain how the company gains a competitive advantage over its competition. Write up your findings in two pages and email it to me. Figure 9.1 Four Ways to Create a Competitive Advantage Improving responsiveness to customers Result in a competitive advantage from Improving quality Improving efficiency 0 Low costs 0 Differentiation Improving innovation 1.Achieve superior e'iciency. Efciency is a measure of the amount of inputs required to produce a given amount of outputs. The fewer the inputs required to produce a given output, the higher is efciency and the lower the cost of outputs. For example, Apple has been recognized by Gartner, a US. research rm, in the Masters category of its annual rankings for sustained supply chain leadership over the last 10 years. The question remains whether Apple can continue its supply chain leadership, as new innovations will be needed from the global tech giant to match its colossal success during the last decade.6 2.Acnieve superior quality. Quality means producing goods and services that have attributessuch as design, styling, performance, and reliabilitythat customers perceive as being superior to those found in competing products.7 Providing high-quality products creates a brand-name reputation for an organization's products, and this enhanced reputation allows it to charge higher prices. In the car industry, for example, Toyota's reputation for making reliable vehicles allows it to outperform rival carmakers and gives it a competitive advantage. 3.Acnieve superior innovation, speed, and exibility. Anything new or better about the way an organization operates or the goods W and services it produces is the result of innovation. Successful innovation gives an organization something unique or different about its products that rivals lackmore attractive, useful, sophisticated products or superior production processes that strengthen its competitive advantage. Innovation adds value to products and allows the organization to further differentiate itself from rivals and attract customers who are often willing to pay a premium price for unique products. For example, Nintendo's competitive advantage in handheld Video game devices has completely eroded, now that games are available on smartphones and tablets. The company recently entered the movie industry in an effort to strengthen its overall Video content business, announcing that a new lm featuring its iconic character Super Mario is under development with Illumination Entertainment, the US. animation studio behind the Despicable Me lm series.8 4.Attain superior responsiveness to customers. An organization that is responsive to customers tries to satisfy their needs and give them exactly What they want. An organization that treats customers better than its rivals do also provides a valuable service some customers may be willing to pay a higher price for. Managers can increase responsiveness by providing excellent after-sales service and support and by working to provide improved products or services to customers in the future. Today smartphone companies such as Samsung, Apple, and HTC are searching for ways to better satisfy changing customer needs for higher-quality video, sound, and Internet connection speed