Discussion Board

Global Competitors

Top 2 global competitors in the market

The two global competitors include Annees Upholstery and Pacific Hospitality Designs. There two business organization that has established a furniture design brand name in the international market. Pacific Hospitably design industry is the topmost furniture business in the industry. It produces and creates superior and unique furniture suitable for office, hospital, and residential usage. Anne’s Upholstery s traditional furniture industry is popular for making stunning unique furniture’s. Thus they have a traditional furniture inventor, making operational and relaxing furnishers.

Provide a strengths, weaknesses, opportunities, and threats (SWOT) analysis for each competitor. Pacific Hospitality Designs

Anne’s Upholstery

Direct Competitors

Pacific and Anees are direct competitors as they have established an encompassing stance in the market. However, other companies can manufacture top line furniture merchandise. According to Alam (2001), there are fewer companies to compete with these custom furniture production businesses. Therefore, each of these two business organization is competitors of free cash flow. As a result, most of the furniture designers depend on custom furnishings. For example, Pacific hospitality design has completed the label that does certify propriety product production reviews. Hence, for furniture business organization to remain productive, it must maintain and ensure that it acquires proficiency and learn about its competitors' new innovative furnishings.

Competitive advantage

These two business organizations have realized that opening a new company ensure that these businesses remain advantageous to their competitors. Business competition is essential as it allows the furniture manufacturing business to remain innovative while carrying out research to develop new and fresh ideas in the production services in the marketplace. This business organization has a competitive advantage over other business organization as it does acquire modern technologies. However, an organization is not in a position to obtain knowledge for technological advances. Hence, a business organization has to indulge in a competitive advantage. New and innovative technology allows a business organization to remains competitive and able to cope with inventory issues.

Cooperative strategy

It is essential to form a cooperative strategy for both Pacific Hospitality design and Anne’s Upholstery as will enhance free cash flow. Moreover, a cooperative strategy will improve the formulation of both strategy and policies for a business firm. Besides, a business organization with an effective collaborative strategy is in a position to sustain and withhold in a competitive market environment (Hashim, Murphy & Law 2007). I would incorporate a strategic alliance and joint venture business strategy to form a new corporative strategy. As a result, other business corporations are in a position to form a cooperative strategy with either Anne’s Upholstery or pacific Hospitality design. Therefore, companies can give to rivalry firms in a competitive market. Thus, a cooperative strategy is essential for maintaining business organization sound position in the market.

Balanced scorecard

A balanced scorecard refers to a performance metric used in strategic management to enhance organization internal functions results in improvement of external outcomes (LIM, 2019). It is used to provide and measure feedback to a business organization. Hence, it is essential to main data collection for both Pacific Hospitality design and Anne’s Upholstery as it provides performance feedback, thus providing quantitative performance results.

References

LIM, S. (2019). How a Balanced Scorecard Is Used. Retrieved from https://www.investopedia.com/terms/b/balancedscorecard.asp

Alam, M. (2001). Problems and Prospects of Leather Industry in UP (Doctoral dissertation, Aligarh Muslim University).