Winning the competition

Every ambitious entrepreneur who wants to make his company and develop it must take action to outdo the competition and thereby secure a competitive advantage, there are several ways to achieve this goal.

 

Technological innovation - new ways of production, modern tools or unconventional ways that we perform services- each type of innovation can make that competition will remain far behind the company introducing them. An example of such innovations could be the introduction of the traditional bookstore is also the possibility of the purchase made online.

 

Diversification of the portfolio of services and products – this is extending of existing offers with new products or services. As a result, the risk of loss is reduced and significantly increase profit opportunities. An example of such diversification may be starting to produce bubbles Christmas by the mill, which has so far produced only a glass.

 

Diversification of the customer portfolio this direction of development is about finding new target groups, eg. where a producer of disposable diapers also begins to produce such products for the elderly.

 

 

Diversification of markets - this gives the company opportunities for development, because it raises the same new customers and increase demand for their products or services. An example of this type of action is the opening of new company stores in other cities or subsidiary companies in other countries.

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