Many companies use their brand as a competitive advantage. Given your knowledge about the global economy, identify three brands you believe have the strongest likelihood of remaining a source of advantage in the 21st century and explain why. Explain the effects you believe the internetâ€™s capabilities will have on the brands you identified in the previous discussion and what the owner of the brand should do in light of them.
From the e-Activity, analyze the internal environment of the company you researched to determine that companyâ€™s strengths and weaknesses. Based on the strengths and weaknesses you discovered, determine what steps the company could take to positively impact the companyâ€™s competitiveness. Explain your rationale.
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Brands that have used a more customer-based level of IT are in my opinion the most competitive in the market. By simplifying and availing IT based solutions for customers, Google, Toyota and Nestle have gained the brand of having an edge in the market. Toyota has customized its cars to the latest IT trends while ensuring affordability for all classes of society. Nestle, on the other hand, has induced IT into its business model by making sure that customers are treated to the best technological gifts they can get through gaming interfaces, whether it be in their stores or on their websites. Google has and continues to lead the diversity of IT and the usefulness of it in all regions. They do this by basing things on innovation as well as by giving customers the capability of being a part of the company. It is by far one of the biggest companies with a global supremacy in market share.
The Internet is almost everything to these companies because it put them in a market all by themselves. The internet does not mean vastness to these companies but rather the potential of new customers. They pool their resources, and use the funds towards the web in an effort of ensuring outreach and inclusion of clients to their businesses.
Toyota, for example, has the strengths of things such as, a global supply chain in addition to having universal brand image. More so, it has a fast paced innovation scheme that is very paramount in the automobile industry. Another weakness in the organizational culture is the companyâ€™s inability to adapt and make changes when needed. Moving into the future, the company should dynamically change its organizational structure to being highly responsive. This allows them to make changes directly in relation to the competition. This will in turn allow them to soar above the competition through quick, rational and calculated ways of action.