Solved by verified expert:I need a respond to both post discussions below. From the first e-Activity, determine which of the two primary drivers of the competitive landscape is more influential. Explain your rationale. Identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 page 15 in the text). Follow the five steps to justify your answer. Do not use Apple or Walmart in this exercise, nor should the organization you select be the same as another post. Depending on the industry, both globalization and technology play a significant role, however sometimes one is more influential than the other. I have been fascinated with Nvidia since I started researching them for the purpose of business and finance classes at Strayer University. With Nvidia being a tech company, I do believe the pressures of a fast paced race to release the next new tech have more of an impact than that of globalization. Every industry can benefit from advancements in technology. As new groundbreaking technology becomes available, companies can upgrade equipment to give them an edge over their competition. Hospitals and medical offices can better diagnose and treat patients with newer equipment, retail companies find new ways to improve services for their customers, and industries can escape the boundaries of brick-and-mortar stores and reach a global market with the use of technology.Applying the I/O Model of Above-Average Returns to Nvidia would be a great example of how a tech company can achieve above average returns. The first step of the I/O model is to study the external environment. Even if Nvidia had superior internal controls compared to their competitors, to have an advantage, Nvidia would have to know about their external environment. Their competitors include companies like Intel, Texas Instruments Inc., Broadcom Inc., and Qualcomm Inc. to name a few. The second step is to locate an industry with high potential for above-average returns. The information technology sector makes up around $9 trillion in market capital. The next closest sector is the financial industry at $7.8 trillion (Fidelity, 2018). Clearly, it is an industry with high potential for above-average returns. Next, strategy formulation is achieved after studying the external environment and competing in an attractive industry. Strategies could be based off of new research and development plans or innovative ideas released by competitors. By knowing what the company is competing against, they can better strategize for strong performance within the industry. The four step is to acquire assets and skills necessary to implement the new strategies. This may require a company like Nvidia to hire new employees or purchase specialized equipment made just for newly designed software and hardware. The fifth step is to use the firm’s capabilities (assets and skills) to implement the strategies. What good does it do a company to acquire new assets and skills if they do not put him to use. With such rapidly changing technology, companies such as Nvidia would need to strategize and implement changes as soon as possible to avoid being left behind by competitors. If each step of the I/O model of above-average returns is followed, the company should be able to earn greater returns than expected. Fidelity. (2018, April 6). Sectors & Industries Overview. Retrieved from Fidelity: https://eresearch.fidelity.com/eresearch/markets_s… Hitt, Michael A. Strategic Management: Concepts and Cases: Competitiveness and Globalization, 10th Edition. Cengage Learning, 2013. [Strayer University Bookshelf]. From the first e-Activity, determine which of the two primary drivers of the competitive landscape is more influential. Explain your rationale. Identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 page 15 in the text). Follow the five steps to justify your answer. Do not use Apple or Walmart in this exercise, nor should the organization you select be the same as another post. In my opinion, two primary drivers of the competitive landscape are technology and global economy. Technology is the way of the world we live in today. Technology is also a key essential that allows companies to optimize performance. Businesses are affected by changes in the technological environment, while technology is simply the application of knowledge to control or change an environment. Some businesses can leverage changing technology to improve products and processes or even create new products and processes that will expand markets and profits while also meeting consumer demands. In a competitive industry, a company has to remain current and up to date with technology and technology advancements to stay ahead with competition and maintain a competitive advantage. The global economy also drives technology that allows goods, and services as well as ideas to move freely across geographical borders. Without a global economy, I do believe that companies would not have the opportunity to have as much success and expansion as they do today. An organization that I believe could benefit from the continuing advancements in technology is Samsung. Using the resource-based model can help achieve a substantial return also allowing Samsung to use their own resources will be able to view their own capabilities. By also using the resource-based model Samsung will advance in the tech world by constructing a realistic plan of strategy to implement. Staying one step ahead of competitors by using skills and resources to maintain an obtainable plan that can be implemented for a successful business. According to (John Dudovskiy) “Samsung business strategy is marked with a high level of flexibility in a way that the company is determined in changing its strategy dramatically according to changes in an external business environment.” Samsung business strategy consists of the following pillars/elements/parts: Effective market readership Scanning and utilizing opportunities in the market New product and development John Dudovskiy ( November 6, 2017).Samsung Business Strategy and Competitive Advantage: effective exploitation of market readership. Retrieved from: https://research-methodology.net/samsung-business-strategy-competitive-advantage-effective-exploitation-market-readership. April 4, 2018.
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