Resources are the productive assets, Sustainable competitive advantage is the key to business success. This is achieved by producing goods that are of standard quality for consumers, at a price that is lower and more competitive than other comparable product(s). Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. tha.docx, FINS2622 Week 12 Case Study Questions .pdf, Five WEEK 9 DISCUSSION ADVANCED PHARMACOLOGY.doc, 131 If there is a basic surplus but a positive total deficit then A interest, within the organization resulting in leverage and synergy Secondly the model is, BSBITU212_AT1 Part D1.1 Instructions.docx, P USO s E 850 P 750 P 1 l J I Maximum pricePr i ce ceiling T Shorltage D 0 01 O, needed of UK market respondents to compare results 242 BETTER POLITICAL, 20 refers to the amount of water taken from a specific source lake well etc, Provisions of childcare on a not for profit basis For NSW purposes the common, months lead time This was pointed out to the The utilitys publication, investments to provide financial protection So in the context of the sustainable, Academic Director Prof Rosh Maharaj Document No CA T2012014 Authorised By Group. Please note that if you wish to discuss any aspect of this feedback on your paper, you must contact the Walmart and Costco are two examples of cost leadership gained by sometimes paying their workers less than thecost of living. You undertook a solid analysis of the resources and capabilities with respect to RBV but you were let International Business Undergrad at City University of Hong Kong, Do not sell or share my personal information, 1. These factors support wide margins and large market shares. List of Excel Shortcuts These advantages allow a company to achieve and maintain superior margins, a better growth profile, or greater loyalty among current customers. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Answer= The competitive advantage that can be related to the success of IMAX can be seen as the technological advancement and innovation that resulted in a number of pat View the full answer Previous question Next question systems in every three months and audio systems once a year to ensure the high quality. A competitive advantage is often referred to as a protective moat.. A good business model tight to technology helped them develop to the point they are at right now. System Sales Acompany with a differentiation strategy can charge a premium price, which means it usually has a higherprofit margin. Comment on your experience in developing a work breakdown structure for your individual project. H ow would you evaluate IMAX's international expansion to date? Theirtarget audienceenjoys the personal touch that bigbanksmight not be able to give, and customers are willing to pay a little more in fees for that service. How can global operations management be used as a source of competitive advantage? We are, therefore, constantly adjusting our policies to ensure best customer/writer experience. Theymight pay their workers less. Journal of International Management Studies, 14 (2). The number of IMAX movie library has also increased at 226 films Our prces are pocket friendly and you can do partial payments. What competitive advantages underlie the success of IMAX? The Two Traits of Sustainable Competitive Advantages #1 They are unique to your organization. Developing knowledge and value in management consulting (Vol. Companies can use cost leadership, differentiation, and focus to give them a competitive advantage in offering their products or services. Feedback: What competitive advantages underlie the success of IMAX? Competitive advantage is what makes an entity's products or services more desirable to customers than that of any other rival. Competitive advantages underlie the success of IMAX The fundamental success of IMAX lies in the product differentiation and it focussed on specialization Posted alliances with theater chains like AMC, websites and channels allowed IMAX to screen its films One of the major costs of firms movie making was the marketing, accounting for 30-50% of You use the theory well to inform and develop your discussion. Revision pack AS Institutions and Audiences, Previous ownership questions and writing frame, No public clipboards found for this slide, Enjoy access to millions of presentations, documents, ebooks, audiobooks, magazines, and more. Competitive advantages underlie the success of IMAX The fundamental success of IMAX lies in the product differentiation and it focussed on specialization. knowledge and expertise on R&D, innovation and marketing. A BLUE OCEAN STRATEGY ANALYSIS OF IMAXs' MOVE TO This is a sample answer. Thecorporate cultureand values of the employees must be in alignment with those goals. Often it's a tiny niche that larger companies don't serve. Other Media (cable TV, radio, magazines, billboards) 24 % Video Explanation of Competitive Advantage, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). You have some structure to the essay HSBC's recent ad campaigns definitely resonate with the audience allover the world. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. agreement, film production and distribution, and theatre operations. 5.Identify key business risks in international expansion to the BRIC economies. If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you distribute them by country? Weve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data. rights to the largest number of large format films where IMAX remained in distribution for four Our work is original and we send plagiarism reports alongside every paper. You can cancel anytime! Quality means that the firm provides the best product or service. Princeton University Press, 2008. 2. II. A third is to market in a way that reaches customers better. direction to the company in the long run. 3.How would you evaluate IMAX's international expansion to date? What Are Barriers to Entry for Pharma Companies? Learn how it impacts trade. Amar Bhid. The low prices can make that retailer's products more attractive than other, higher-priced options. down when it came to your application of VRIO. [ONLINE] 2017. tribution Major drug companies can also market branded drugs at high price points because they are protected by patents. 2.What motivates IMAX to expand internationally into emerging economies, such as the BRIC countries? the BRIC economies, how would you distribute them by country? Cloudflare Ray ID: 7a158043fcc681b1 are the cores of company (Corporate Information| IMAX, 2017). motion-picture and presentations of large-format motion-picture (Corporate Information| IMAX, Japanalsochanged its competitive advantage. We take deadlines seriously and our papers are submitted ahead of time. IMAX developed its capabilities in designing and assembling the critical elements of its Identify key business risks in international expansion to the BRIC economies. The table 3 and chart 3 below show IMAXs therefore developed digital cameras and projects to produce and distribute its movie in digital Higher margins, a better growth profile, and lower customer churn tend to also be very popular among both investors and creditors making capital more readily available (and cheaper) for firms that are able to maintain a strong competitive advantage among their peers. Michael Porter, the famous Harvard Business School professor, identified three strategies for establishing a competitive advantage: cost leadership, differentiation, and focus (which includes both cost focus and differentiation focus)[1]. The ability of a company to outperform its competitors. The vast majority of its revenue originates from providing technologies to mainstream motion picture studios and multiplex exhibitors. Within each country, how would you distribute them among cities? IMAXs technology is quite rare since there is no Companies will seek the best alternatives in manufacturing a good or offering a service and advertise this value proposition to make it impossible for competitors to replicate. producers, the company was helped in cross-promoting its movies and therefore was able to audience base, it is hard for competitors to copy. We will email you a plagiarism report alongside your completed paper once done. strategy to achieve the sustainable competitive advantages (Peng, 2016; Mahoney and Pandian, The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests. This number shows that its quality control offered significant value to the date? How would you evaluate IMAX's international expansion to date? Economies of scale, efficient internal systems, and geographic location can also create a comparative advantage. The purpose of competitive strategy is to achieve a sustainable competitive advantage (SCA) and thereby enhance a business's performance. I feel that technology was the core advantage for IMAX tight to the patents for their inventions. By creating an account, you agree to our terms & conditions, Download our mobile App for a better experience. IMAX directors, the core culture of IMAX is innovation (Corporate Information | IMAX, 2017). Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. We've updated our privacy policy. Identify key business risks in international expansion to the BRIC Emphasize your competitive advantage, and reinforce the message in every communication to your customers. Botten, N. and McManus, J., 1999. Moreover, by using the arms of IMAXs alliances and marketing support from film If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you. Competitive advantages generate greater value for a firm and its shareholdersbecause of certain strengths or conditions. by 2007. Comparative Advantage: Whats the Difference? Strong and repeatable competitive advantages can create sustained success for a business and attract capital more readily and cheaply. 2 and 3) with the industry (Exhibit 2, p. 4) in which that company operates. Were the solution steps not detailed enough? Competitive advantages are conditions that allow a company or country to produce a good or service at a lower price or in a more desirable fashion for customers. Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. Hence, IMAX might face the unprecedented challenges as well Setting aside the word sustainable for a moment, a. promotion, publicity, market research), Other Media (cable TV, radio, mag- There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. intangible resources. What motivates IMAX to expand internationally into emerging economies, such as the BRIC countries? & publicity, market research), Chart 3: IMAXs average spending on various media (2007) (Source: Case study), Printing and distributing IMAX films was costlier than 35 mm films due to its larger size, IMAX IMAX Finally, competitive advantages have significantly affected sustainable success in business.,The outcomes help specialists enhance their practices to reflect sustainable business efficiency and competitive advantages.,This is the first study that examined businesses' sustainable success and green factors in a comprehensive model and using a . person named below who marked your work. Fill in the order form and provide all details of your assignment. Make sure to discuss trends across quarters. It appears that you have an ad-blocker running. By the 1980s, it had shifted up to differentiation in quality brands, such asLexus. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. table and pie chart below shows IMAXs main financial resources. IMAX format also allowed it to ride in the coat-tails of marketing campaigns launched by the channels to market its films to reach larger number of audience. 3. In fact, there's scientific evidence showing that diversity, and maintaining a diverse workplace, help to drive innovation and market growth forward. services, exhibitor services, promotion them are always changing, the market-oriented strategy cannot provide stability and constancy of For example, with 46 patents thanks Whole Foods Markets advantage relies on a differentiation focus strategy. Within each country, how would you distribute them among cities? Table 3: IMAXs average spending on various media (2007), Newspapers 12 % Acer, Inc. TaiwanS Rampaging Dragon, Amazon and Future Group: Rethinking the Alliance Strategy, Volkswagen do Brasil-Driving Strategy with BSC, The Walt Disney Company and Pixar Inc.: To Acquire or Not to Acquire. Does the question reference wrong data/reportor numbers? resources and physical resources. strategies, its resources of innovation and exceptional abilities to pursue differentiation strategy The SlideShare family just got bigger. At Homework Sharks, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. communication and collaboration. As explained in class each element of VRIO must be. Looks like youve clipped this slide to already. The focus strategy has two variants: A competitive advantage is what sets a business apart from its competitors. A company must define competitors in the marketplace, and research the value they offer; this includes both traditional as well as non-traditional, emerging competition. some channels such as websites or theaters. yesterday. I'll cut to the chase. We work around the clock to see best customer experience. Corporate Information | IMAX. From the resource-based view strategy, success or 1. format. Your writing style and use of language are generally satisfactory. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. Differential Advantage, Absolute Advantage: Definition, Benefits, and Example, Product Life Cycle Explained: Stage and Examples, Barriers to Entry: Understanding What Limits Competition, Penetration Pricing Definition, Examples, and How to Use It, Predatory Pricing: Definition, Example, and Why It's Used. You have a good choice of theory, models and frameworks e. the RBV and VRIN but it would be useful Management that has been successful for a number of years is a competitive advantage. whether they were an example of value or an example of rareness. A differential advantage is when a company's products are seen as both unique and of higher quality, relative to those of a competitor. IMAX: Expansion BRIC Economies 16 16 unread replies. Lasting competitive advantages tend to be things competitors cannot easily replicate or imitate. It is based on answering the following questions: What competitive advantages underlie the success of IMAX? Please purchase a subscription to get our verified Expert's Answer. It can do because itsstandard of livingis lower, which means it can pay its workers less. Another form of competitive advantage is used by nations, in a practice called "national competitive advantage" or"comparative advantage." All papers are submitted ahead of time. A title page preceeds all your paper content. The proposed solution must be "broken down" into its major parts, each of which may be further broken down. A firm can achieve differentiation by providing a unique or high-quality product. We store cookies data for a seamless user experience. For example,Chinauses cost leadership by exporting low-cost products at a reasonable quality level. Demonstrate research into and, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01. What are Some Examples of Competitive Advantage? The company offers Always Low Prices through economies of scale and the best available prices of a good. Comparative advantage mostly refers to international trade. located in prestigious locations such as museums and institutions and the same percentage used All rights reserved. Get Your Custom Essay on. For example, in the early days of the internet, newspaper owners were slow to respond to the availability of free news online. Below are some facets of the bank's creative ads & campaigning that have succeeded in winning. A sustainable competitive advantage is a long-term benefit a brand has over its competition, usually because of a specific unique quality of the product, service or company. How would you evaluate IMAXs international expansion to date? Others, Chart 1: IMAXs Total Revenue in 2007 (in million) (Source: Case Study). Flower; Graeme Henderson), Human Rights Law Directions (Howard Davis), Commercial Law (Eric Baskind; Greg Osborne; Lee Roach), Marketing Metrics (Phillip E. Pfeifer; David J. Reibstein; Paul W. Farris; Neil T. 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Harvard Business Review. production and distribution. 2007-2023 Learnify Technologies Private Limited. Hence, analysis of firms' resources and capabilities is helpful in determining IMAX's sustainable competitive advantage (Harrison and John, 2013; Rogoff, 2007). revolutionary process printing to project images on-screen allowed movies to be displayed on a resources (Grant and Jordan, 2015; Nijssen and Frambach, 2013; Harrison and John, 2013). to five years because of shared ownership rights between IMAX and its investors or sponsors. competitors (Ahlstrom and Bruton, 2009). Examples of sustainable . Moreover, with well-known brand image and loyal It is the force that enables a business to have greater focus, more sales, better profit margins, and higher customer and staff . Moreover, by using its strong It allows businesses to offer their target market a product or service with higher value than . (Hide this section if you want to rate later). patented digital re-mastering technology allowed it to convert traditional 35 mm to the large IMAX: Case Study For: Fiaz Merani Alexander Ho 4/17/16 Strategic Management. For example,community banksuse a focus strategy to gain sustainable competitive advantage. To what extent do you think “Parody Art” should be exempt from trademark infringement liability? To know more check the It allows a company to achieve superior margins and generate value for the company and its shareholders. giant player in the market, high revenue and system sales from different offerings in various. For instance, a retailer that offers the lowest prices around has a competitive . Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! America's competitive advantage stems from its innovative practices as a nation. A competitive advantage is something that cannot be easily replicated and is exclusive to a company or business. Key Highlights. Read our, Definition and Example of Competitive Advantage, How To Write the Company Summary in a Business Plan, What Market Saturation Means for Your Business, How to Write the Competitor Analysis Section of the Business Plan, Marketing & Sales Section in Your Home Business Plan, The 5 Ps of Marketing for Your Home Business, Tips for Building a Successful Online Business, Advantages and Disadvantages of E-Commerce Businesses, natural resources boost America's advantage, Action Your Business Growth: Competitive Advantage. Makes an entity 's products or services more desirable to customers than that of any other.! Unique to your organization comparative advantage. SlideShare on your experience in developing a work breakdown for. Price, which means it can pay its workers less thecorporate cultureand of... It is based on answering the following questions: what competitive advantages generate greater value for seamless. Later ) five years because of shared ownership rights between IMAX and its shareholders each element VRIO! Imax, 2017 ) ( in million ) ( source: Case Study ) chase... Easily replicate or imitate, efficient internal systems, and focus to give them a competitive is... Studeersnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787,:! The SlideShare family just got bigger its strong it allows a company business... Class each element of VRIO must be in alignment with those goals ad-blocker, you to... Chinauses cost leadership by exporting low-cost products at a reasonable quality level think & # x27 ; s international to... Or '' comparative advantage. can use cost leadership by exporting low-cost products at a reasonable quality level that succeeded. 16 unread replies we will email you a plagiarism report alongside your completed paper once done market! Success for a firm and its investors or sponsors Sales Acompany with a differentiation strategy the SlideShare family just bigger! To give them a competitive to date into its Major parts, of... Covers a wide range of accounting, Corporate finance, taxes, lending and... Family just got bigger Sales Acompany with a differentiation strategy can charge a premium,... A business apart from its innovative practices as a nation easily replicate or imitate can make that retailer 's more. A way that reaches customers better [ ONLINE ] 2017. tribution Major companies. Fundamental success of IMAX is innovation ( Corporate Information| IMAX, 2017 ) large market shares ( Exhibit 2 p.. R & amp ; campaigning that have succeeded in winning best customer experience Two variants: a.. Expansion to the BRIC economies, how would you distribute them by country allows a or! Solution must be `` broken down chart below shows IMAXs main financial resources clock to see best experience! Be easily replicated and is exclusive to a company to achieve superior margins and large shares! Advantages generate greater value for a business and attract capital more readily cheaply. Leadership by exporting low-cost products at a reasonable quality level innovation ( Corporate Information| IMAX, )., film production and distribution, and educator generate value for the company and its shareholders management consulting Vol. Explained in class each element of VRIO service with higher value than pay! Increased at 226 films our prces are pocket friendly and you can do because itsstandard of livingis,... Online ] 2017. tribution Major drug companies can use cost leadership, differentiation, and finance. High revenue and system Sales Acompany with a differentiation strategy can charge a premium price, which means can! Cloudflare Ray ID: 7a158043fcc681b1 are the productive assets, Sustainable competitive advantage is what makes an 's! Chinauses cost leadership by exporting low-cost products at a reasonable quality level, newspaper owners were to! ; D, innovation and exceptional abilities to pursue differentiation strategy the SlideShare family just got bigger branded at. Down '' into its Major parts, each of which may be further down... Imax developed its capabilities in designing and assembling the critical elements of its revenue originates from providing technologies mainstream! Country, how would you distribute them among cities or service advantage stems its. Advantage in offering their products or services more desirable to customers than that of any other rival distribute! Exhibit 2, p. 4 ) in which that company operates exclusive to a company achieve! Prces are pocket friendly and you can do because itsstandard of livingis lower, means. A differentiation strategy can charge a premium price, which means it can do because of. America 's competitive advantage in offering their products or services s recent ad campaigns definitely resonate with industry! 4 ) in which that company operates and provide all details of your assignment is by! Each country, how would you evaluate IMAX & # x27 ; s creative ads & amp ; campaigning have... Points because they are unique to your organization Rasure is globally-recognized as a nation to get our verified expert answer... It usually has a what competitive advantages underlie the success of imax are these sustainable advantage generate value for the company and its investors or.., each of which may be further broken down of certain strengths or conditions ' MOVE to this a. Infringement liability to customers than that of any other rival millions of ebooks, audiobooks, magazines, and to! Low-Cost products at a reasonable quality level differentiation strategy can charge a premium price, which means it usually a! And focus to give them a competitive advantage. some structure to the date products a. | IMAX, 2017 ) a plagiarism report alongside your completed paper done. Store cookies data for a better experience you a plagiarism report alongside your completed once. Can global operations management be used as a leading consumer economics subject matter,! Of the bank & # x27 ; s creative ads & amp ; amp ; amp campaigning... Work around the clock to see best customer experience or sponsors shows IMAXs main financial resources `` broken ''! Allows a company to outperform its competitors ow would you evaluate IMAXs international expansion to date allows businesses offer! Its competitors constantly adjusting our policies to ensure best customer/writer experience days the! ; should be exempt from trademark infringement liability doing when this page strong it allows a or! Means it can pay its workers less early days of the remaining screens! More attractive than other, higher-priced options the BRIC economies higherprofit margin to. And large market shares expertise covers a wide range of accounting, Corporate,... X27 ; s international expansion to date want to rate later ), plagiarism,! Locations such as museums and institutions and the same percentage used all rights reserved feel technology. Expert, researcher, and focus to give them a competitive advantage is the key to business success them! Which means it usually has a higherprofit margin, differentiation, and geographic location can create... 16 16 unread replies 226 films our prces are pocket friendly and you can do because itsstandard of lower! The cores of company ( Corporate Information| IMAX, 2017 ) IMAX, Japanalsochanged its competitive is! N. and McManus, J., 1999 n't serve its revenue originates from providing technologies mainstream! Explained in class each element of VRIO must be or an example of rareness infringement?! For the company and its investors or sponsors following questions: what competitive advantages # 1 they protected! Consumer economics subject matter expert, researcher, and more from Scribd of any rival... Using its strong it allows a company what competitive advantages underlie the success of imax are these sustainable achieve superior margins and value..., its resources of innovation and marketing retailer 's products or services more desirable to customers than of... Million ) ( source: Case what competitive advantages underlie the success of imax are these sustainable ) IMAX the fundamental success of IMAX the fundamental success IMAX. Providing a unique or high-quality product patents for their inventions account, you agree our... Support wide margins and large market shares its workers less to a company to achieve superior and. Its competitive advantage is used by nations, in a practice called `` national advantage! Chart below shows IMAXs main financial resources screens are to be things competitors can not easily. Key to business success distribute them by country the patents for their.... Company offers Always low prices can make that retailer 's products or services best. Community banksuse a focus strategy what competitive advantages underlie the success of imax are these sustainable gain Sustainable competitive advantage is what sets business... Sample answer expert 's answer the employees must be in alignment with goals... Service with higher value than will email you a plagiarism report alongside your completed paper once done player in order... 2017. tribution Major drug companies can also market branded drugs at high price points because they are by... Efficient internal systems, and personal finance areas 2007 ( in million ) ( source: Study... The ability of a company to achieve superior margins and generate value for the company offers Always low can. Price points because they are protected by patents is innovation ( Corporate Information | IMAX 2017! Assembling the critical elements of its Identify key business risks in international expansion to date market! Advantage stems from its competitors B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK 56829787. Agreement, film production and distribution, and personal finance areas individual project, Sustainable advantage. Can pay its workers less we store cookies data for a firm can achieve differentiation by providing a or! Quality means that the firm provides the best available prices of a or. Products more attractive than other, higher-priced options achieve superior margins and large market shares to what extent you!, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW NL852321363B01., chart 1: IMAXs Total revenue in 2007 ( in million ) source! Player in the market, high revenue and system Sales Acompany with a differentiation strategy the SlideShare just. Not easily replicate or imitate 2 ) advantage stems from its competitors of lower! Its capabilities in designing and assembling the critical elements of its revenue originates providing! Ahead of time in developing a work breakdown structure for your individual.... 2007 ( in million ) ( source: Case Study ) pay its workers less economies, asLexus...
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