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Good To Great By Jim Collins: Business Analysis

532 Words3 Pages

According to Jim Collins, author of Good to Great explains that competitiveness lies in a company's unique skills and resources which provide goods, services and products to implement strategies that competitors cannot implement as effectively. This also allows any company as a whole to understand its competitiveness within the industry it operates and this forms a critical part of any business and its operations.

A market can be competitive (as measured in the normal way) but competition may nevertheless not be effective in the market place. Even though there may be many competitors in a market, competition is only effective in practice if the consumer is;
 Able to make a rational choice between competitors, and
 Able to exercise choice …show more content…

This is what organizations use when it needs to understand what it takes to remain competitive in the industry they operate. As per the article published by the African bank (February, 2012), the continued belief that long term relationship with suppliers will lead to mutually benefit partnerships is the cornerstone which will aid the meeting of successful sustainable targets in which organizations compete.

So does banking really mean the same today as in the past? The answer to that question is no. Organizations could only focus on a set of homogenous products and competition was limited to that sector. For example banking products were only found in banks and the financial industry was limited to banking as well. Today, the whole financial sector is seen as part of the global retail industry and should conform to the products and services found within the latter industry. This means that the environment also contributes and shapes the way organizations compete. In the past the organizations were mainly influenced by what was happening locally let alone within the sector. Organizations now have to comply

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