Consider this quote by Sun Tzu: “Know the enemy and know yourself; in a hundred
ID: 363932 • Letter: C
Question
Consider this quote by Sun Tzu:
“Know the enemy and know yourself; in a hundred battles you will never be in peril. When you are ignorant of the enemy, but know yourself, your chances of winning or losing are equal. If ignorant both of your enemy and yourself, you are certain in every battle to be in peril.”
In approximately 500 words, compare and contrast this quote with the strategy of distinctive competence as it leads to competitive advantage. You must be aware of this comparison because today’s managers try to combat competition in business. You will use this information in your final globa
Explanation / Answer
Knowing about the strengths and weaknesses are certainly a good sign for any individual or business to start any new venture. Considering the above quote "to be well acquainted with an enemy and yourself" can be easily extrapolated in today's business context. When any business unit starts doing a business in a particular product or service segment, that unit or business head should be well aware of the competitor's capability and strengths so that business can be planned accordingly. But before making any comparison, one must be totally aware of its own strengths and weaknesses.
Distinctive competence is the quality or attributes which any firm possess, thereby creating or opening new business avenues in the new or already existing market. It is solely the competency and sheer planning of the firm which allows it to venture into a new territory. To build a Distinctive competence one must be well equipped with the required competencies, processing capabilities of the competitor and counter-planning strategies to nullify the impact of the competitor.
It can be achieved through multiple ways such as filing the patents, launching the superior products, working on cutting-edge technology, Excellent marketing skills, Well organized workforce, and strong business will and determination and could be much more.
Not to forget, doing business is like fighting a battle and win can only be ensured if and only if a particular party or person has/have better counter plans or strategies in place.