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The sustainable competitive advantage: elements of business strategy for surviving in the franchising industry
Shaira Ismail1.
Competitive position is a firm's position relative to its competition in the market. Firms should identify its strengths to build on and weaknesses to overcome when formulating strategies for competitive advantage. Firms should seek out the best example or practice in the industry to improve and assess where they stand on overall peiformance and benchmark their position in the industry. The aim ofthis research is to identify the factors and business strategies contributing to the firms , competitive advantage in order to secure and sustain itself in the franchise business. A set of questionnaire was
developed and distributed to the selected franchisees. The survey results showed that the extremely important factors contributing to a company's competitive advantage are related to customers and products aspects. A business sustainable competitive advantage (SCA) is a combination of
elements of the business strategies such as satisfying customers needs, franchisor and franchisee relationships, capitalizing on organizational resources, business location, marketing and promotional activities, product management, maintaining high quality of products and services, business
management how, self-confidence system and and so capability forth. On would the other also
hand. give skills, an implication business knowto the entrepreneurs' decision making. A look at the discussion above indicates mainly on the business sustainable factors and competitive advantage.
Affiliation:
- Universiti Teknologi MARA, Malaysia
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Immediacy Index
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