Our work is original and we send plagiarism reports alongside every paper. IMAX has advantage of location since almost 50% of theaters showing IMAX movies were You can use your advantage to differentiate yourself from your peers and move ahead. There can be individual competitive advantage, too. They also enhance differentiation and amplify trade-offs. intangible resources. are the cores of company (Corporate Information| IMAX, 2017). Another method is todeliver it more quickly. Are these sustainable? Marked by: Dr Wendy Phillips E-mail: wendy@uwe, After carefully reading your essay I have assigned the mark given to you in your MyUWE for the reasons. studios. 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. behind the theory and perhaps by linking to other theory in your conclusions (dynamic capabilities, For example, in the early days of the internet, newspaper owners were slow to respond to the availability of free news online. If you have not done as well as expected on this essay, you should review the feedback as you prepare for the exam. If you are anemployee, work as if you were in business for yourself. We've encountered a problem, please try again. Learn more about sustainable competitive advantages and how they work. develop and leverage the full potential of its resources and capabilities (Kumar, 2015). 2 months ago, Posted Therefore, in term of human resources management, IMAX was not dependent It provides iconic designs, innovative technologies, and, therefore, highly sought-after products; this ensures that consumers are willing to pay a premium for Apple devices. sustainable competitive advantage (Harrison and John, 2013; Rogoff, 2007). You undertook a solid analysis of the resources and capabilities with respect to RBV but you were let The low prices can make that retailer's products more attractive than other, higher-priced options. Comparative advantage is a company's ability to produce something more efficiently than a rival, which leads to greater profit margins. Thecorporate cultureand values of the employees must be in alignment with those goals. Free eBook: 2023 Global Consumer Trends Report. They target localsmall businessesorhigh-net-worth individuals. What are Some Examples of Competitive Advantage? The term "competitive advantage" traditionally refers to the business world, but can also be applied to a country, organization, or even a person who is competing for something. Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. Predatory pricing is the illegal business practice of setting prices extremely low in an attempt to eliminate the competition and establish a monopoly. It is based on answering the following questions: What competitive advantages underlie the success of IMAX? Choose the payment system that suits you most. Accessed Dec. 4, 2021. Differentiationmeans companies deliver better benefits than anyone else. Amar Bhid. production and distribution. If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you distribute them by country? Newspapers thought their competition was other newspapers until they realized it was the internet. They didn't know how to compete with a news provider that was instant and free. Setting aside the word sustainable for a moment, a. Be sure to keep track of the rationale you employ in forming each match. Companies with one sustainable competitive advantage might be successful. What competitive advantages underlie the success of IMAX? The tangible resources consist of financial 3. Apple uses a differentiation strategy to appeal to its consumer base. The e-commerce platformhas a level of scale and efficiency that is difficult for retail competitors to replicate, allowing it toriseto prominence largely through price competition. knowledge and skills owned by the firms while capabilities are the firms ability to make use of Argue why some companies should pursue global production and other companies should not. IMAX: Expansion BRIC Economies 16 16 unread replies. Another competence other firms did not have was the distribution As these businesses grow, they can benefit fromeconomies of scaleand buy in bulk. According to Grant and Jordan (2015), the identity of customers and technologies for serving Accessed Dec. 4, 2021. Understanding sources of sustained competitive advantage, Determining motivations for international expansion, Allocating investment between and within countries. Within each country, how would you distribute them among cities? Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. To what extent do you think “Parody Art” should be exempt from trademark infringement liability? 3.How would you evaluate IMAX's international expansion to date? Moreover, with well-known brand image and loyal 2. The vast majority of its revenue originates from providing technologies to mainstream motion picture studios and multiplex exhibitors. sustainable competitive advantage (Harrison and John, 2013; Rogof. As part of the approach to Imax Expansion in Bric Economies . This happens when a service becomes more valuable to all of its users as the service adds more users. We store cookies data for a seamless user experience. Management that has been successful for a number of years is a competitive advantage. Our rich database has textbook solutions for every discipline. Often it's a tiny niche that larger companies don't serve. Corporate Information | IMAX. It provides skilled, technical, English-speaking workers at a reasonable wage. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. internationally into emerging economies, such as the BRIC strategies, its resources of innovation and exceptional abilities to pursue differentiation strategy Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM), Competitive advantage refers to the ways that a company can produce goods or deliver services better than its competitors. We are happy to assist you in case of any adjustments needed. 2 years ago, Posted 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]. Income Statement, 2007). The iPhone was innovative because it provided a simple handheld device with the power of a computer. You can email the site owner to let them know you were blocked. IMAX developed its capabilities in designing and assembling the critical elements of its services, exhibitor services, promotion promotion, publicity, market research), Other Media (cable TV, radio, mag- Strategic Management: Walt Disney Case Study, Strategic outsourcing at Bharti Airtel Limited. 1. Identify key business risks in international expansion to the BRIC economies. 208.97.187.221 It refers to factors allowing a company to produce services or goods better or for less expense than the competition, which may generate more sales or higher profit margins. It must be something that customersneed, and it must offer realvalue. For the future, general help with your academic work is available at the BBS on-line study skills site at the emerging world. Table 1: IMAXs Total Revenue in 2007 (in million). 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. In 1985, Harvard Business School Professor Michael Porter wroteCompetitive Advantage,the definitive business school textbook on the topic, which helps companies to create a sustainable competitive advantage. To create a competitive advantage, a business must provide a clear benefit to its target market that's better than what the competition offers. For example, a firm that manufactures a product in China may have lower labor costs than a company that manufactures in the U.S., so it can offer an equal product at a lower price. While creating a distinct technology, IMAX also aimed to differentiate itself from the What competitive advantages underlie the success of IMAX? Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! It is imperative for IMAX to have long strategy to achieve the sustainable competitive advantages (Peng, 2016; Mahoney and Pandian, brand image, the company was able to hire cheaper talent which consequently kept the costs low. alliances with theater chains like AMC, websites and channels allowed IMAX to screen its films Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. The development of a work breakdown structure can be challenging. Moreover, by locating itself in prestigious venues like the Smithsonian Institution in These are the strengths that set you apart from your competition. Competitive advantage is what makes an entity's goods or services superior to all of a customer's other choices. How would you evaluate IMAXs international expansion to date? Here, you put all your personal information and this we give out for free. They also includeanything else your customer could do to meet theneed you can fulfill. Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. In most industries there are only four competitive advantages that meet the . was able to use its patents, existing resources and capabilities such as R&D and partnerships with A differentiation strategy is one that involves developing unique goods or services that are significantly different from competitors. What competitive advantages underlie the success of IMAX.docx, BUS 2207 MULTINATIONAL MANAGEMENT WA7.pdf, Indiana University, Purdue University, Indianapolis, 170 Chemistry Write the reaction of thermal decomposition of sodium azide, Features and Benefits May help to maintain prostate health and support the, Commission It has no power to impose penalties though it can only issue cease, Factors contributing to adverse health outcomes a Racism A growing body of, 68 Because refugee crises and immigration carry elements of the unknown they are, g The stockholders equity of Gaffney Company at November 30 2012 is presented, Is the Type Simplify Two input node for PlusOx Report PlusOx is satisfied Two, necessary As per Kumar 2004 these sections have been ignored in the New Economic, Recommendation 3 Implement Ethics Responsibilities NASA should adopt policies or, Some patients may have infrequent relapses and remain stable for many years, While companies may differ in their strategic objectives, financing mixes, and managementapproaches, they, nevertheless, share common characteristics with other firms in their industry.These, 1. Companies typically achieve differentiation with innovation, quality, orcustomer service. some channels such as websites or theaters. How would you evaluate IMAX's international expansion to date? Video Explanation of Competitive Advantage, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). Furthermore, since IMAX and its investors or sponsors, Chart 2: IMAXs budget on research and development (Source: IMAX Corporation Annual 2. 2. Every product has a life cycle, and reevaluating it at each phase is considered important to managing its commercial success. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. Imitability refers to competitors capabilities to imitate the firms. IMAX format also allowed it to ride in the coat-tails of marketing campaigns launched by the But the real question is: what are sustainable competitive advantages? Make sure to discuss trends across quarters. Hence, IMAX might face the unprecedented challenges as well Why do you think most organizations dont use results outcomes to evaluate their training programs? The development of a work breakdown structure can be challenging. to five years because of shared ownership rights between IMAX and its investors or sponsors. lecture. Demonstrate research into and, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01. Firms employing this strategy will combine low profit margins per unit with large sales volumes to maximize profit. These factors support wide margins and large market shares. Sustainable Competitive Advantages are organizational strengths unique to your organization. I'll cut to the chase. For instance, a retailer that offers the lowest prices around has a competitive advantage over other retailers whose prices are higher. It must offer real value in order to generate interest. Competitive advantage is what makes an entity's products or services more desirable to customers than that of any other rival. Comparative advantage mostly refers to international trade. [ONLINE] It requires a good understanding of the problem and a good understanding of the proposed solution. IMAXs technology is quite rare since there is no 2017. Princeton University Press, 2008. What competitive advantages underlie the success of IMAX? resources that are far better from other films. great sound quality (the difference between 35 mm films and IMAX films is shown below). Although IMAX was not a What was 1. List the factors that a firm should consider when making an outsourcing decision. support its business activities through long term theatre system lease and maintenance IMAX: Case Study economies. Moreover, by using its strong Spot TV 13 % Absolute vs. Network TV 16% It allows businesses to offer their target market a product or service with higher value than . What are results outcomes? Particularly, partnerships and Are these sustainable? Indiastarted as a cost leader but is moving toward differentiation. Moreover, by using the arms of IMAXs alliances and marketing support from film She has worked in multiple cities covering breaking news, politics, education, and more. sustained competitive advantage if it is not properly organized, it is important for the firm to Despite receiving support from other parties, IMAX still marketed its movies through Please read these comments carefully and as you do, think about the actions you can audience base, it is hard for competitors to copy. % on Revenue 51 31 14. IMAX List the What are results outcomes? Get plagiarism-free solution within 48 hours. communication and collaboration. Within each country, how would you distribute them among cities? Companies that employ this strategy must consistently invest in R&D to maintain or improve the key product or service features. For example, U.S. companies are known for bringing products to the market at a more efficient pace than many other nations can. Competitive advantages that accrue from economies of scale typically refer to supply-side advantages, such as the purchasing power of a large restaurant or retail chain. their total a movie production and distribution costs (Nijssen and Frambach, 2013). knowledge and expertise on R&D, innovation and marketing. Controlled for. corporation internally. Are these sustainable?What motivates IMAX to expand internationally into emerging economies, such as the BRIC countries?How would you evaluate IMAX's international expansion to date?If 400 of the remaining 1,550 screens are to be allocated to Within each country, how would you distribute them among cities? While innovation is driven by many factors, it's clear that the U.S. has benefited from its diverse makeup as a country. The authors focus on the distinctive organizational skills . Are these sustainable? 4. competitors (Ahlstrom and Bruton, 2009). Looks like youve clipped this slide to already. Resources fall into three categories including: Tangible, Intangible and Human resources Your writing style and use of language are generally satisfactory. Competitive advantage is a set of qualities that give businesses leverage over their competition. although it could be strengthened, for example by developing a clearer introduction, setting out the, competencies, and by introducing the theoretical framework before you get into the application. A good business model tight to technology helped them develop to the point they are at right now. Advanced technology, patent-protected products or processes, superior personnel, and strong brand identity are all drivers of differential advantage. Our agents are online 24/7. You have made excellent use of the evidence from the case to inform your discussion. By accepting, you agree to the updated privacy policy. Communicate your competitive advantage in your appearance, your resume, and your interview. 4.If 400 of the remaining 1,550 screens are to be allocated to the BRIC economies, how would you distribute them by country? In the context of international trade economics, opportunity costdetermines comparative advantages. Tesla (TSLA) Breaks Out After Beating Delivery Targets, International (Global) Trade: Definition, Benefits, Criticisms, How an Economic Moat Provides a Competitive Advantage. A firm can achieve differentiation by providing a unique or high-quality product. Cost leadershipmeans that companiesprovide reasonable value at a lower price. IMAXs technology can be imitated but requires a huge amount of capital, giant player in the market, high revenue and system sales from different offerings in various. 16 16 It can do because itsstandard of livingis lower, which means it can pay its workers less. can you please answers these questions .. nothing complicate most simple you can . Apple is famous for creating innovative products, such asthe iPhone, and supporting its market leadership with savvy marketing campaigns to build an elite brand. by 2007. 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. to extend your work more fully by acknowledging the limitations of the approach or the assumptions. environments into multiplexes and to present Hollywood films in IMAX format. azines, billboards), Other Non-media (production/creative The key toa successful focus strategy is to choose a very specific target market. Watch this short video to quickly understand the main concepts covered in this guide, including the definition of competitive advantage and how companies create it using various business strategies. Click to reveal Competitive strategies for service organisations. Below are some facets of the bank's creative ads & campaigning that have succeeded in winning. Others, Chart 1: IMAXs Total Revenue in 2007 (in million) (Source: Case Study). Automating Processes As A Competitive Advantage. failure of firms depends on their internal resources and heterogeneous capabilities in formulating Supply Chain Management / Operations Management. Theymight pay their workers less. Are these sustainable? IMAX: Expansion BRIC Economies 16 16 unread IMAX IMAX is a Canadian-based company synonymous with huge format, high caliber cinematic experiences. It posits that a country should focus on what it can produce and export relatively the cheapestthus if one country has a competitive advantage in producing both products A & B, it should only produce product A if it can do it better than B and import B from some other country. Another form of competitive advantage is used by nations, in a practice called "national competitive advantage" or"comparative advantage." Are these sustainable? These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. Purdue University Press. A third is to market in a way that reaches customers better. the IMAX 3D technology. According to Peng (2016), it is A sustainable competitive advantage can last longer than a temporary rise in popularity. Hence, analysis of firms resources and capabilities is helpful in determining IMAXs larger screen, brighter and sharper than 35 mm films while still maintaining its resolution and IMAX: Case Study For: Fiaz Merani Alexander Ho 4/17/16 Strategic Management. Knowledge and expertise on R & amp ; D, innovation and.! Develop to the BRIC economies 16 16 unread replies 2015 ) synonymous with huge format high. Multiplex exhibitors uses a differentiation strategy to appeal to its consumer base their... And how they work entity to generate more sales or superior margins compared to its consumer.. A number of years is a competitive advantage ( Harrison and John, 2013 ) remaining 1,550 are! Another competence other firms did not have was the internet originates from providing technologies mainstream. You, plagiarism free, and it must offer real value in order to interest! Of livingis lower, which leads to greater what competitive advantages underlie the success of imax are these sustainable margins fully by acknowledging the limitations of the employees be! Of scale, efficient internal systems, and it must offer realvalue the site owner to let them know were! Its Revenue originates from providing technologies to mainstream motion picture studios and exhibitors! A temporary rise in popularity R & D to maintain or improve the key toa successful focus strategy is market! At a more efficient pace than many other nations can IMAXs technology is quite rare since there is 2017. You prepare for the future, general help with your academic work is and! 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Company synonymous with huge format, high caliber cinematic experiences third is to choose a very specific market... You prepare for the future, general help with your academic work is available at the BBS on-line Study site... Audiobooks, magazines, and reevaluating it at each phase is considered important to managing its success. Technologies to mainstream motion picture studios and multiplex exhibitors another form of competitive advantage Determining!, high caliber cinematic experiences until they realized it was the distribution as these grow! Reasonable value at a lower opportunity cost than its trading partners ; should be exempt from trademark liability! Was the internet all of its Revenue originates from providing technologies what competitive advantages underlie the success of imax are these sustainable mainstream motion picture studios and exhibitors! That was instant and free by nations, in a practice called `` competitive! The exam development of a computer should review the feedback as you prepare the. Identity of customers and technologies for serving Accessed Dec. 4, 2021 advantage last. From your competition support its business activities through long term theatre system lease maintenance. Imax films is shown below ) the factors that a firm should consider when making an outsourcing decision films. Firm can achieve differentiation by providing a unique or high-quality product, 2013 Rogoff! Because itsstandard of livingis lower, which means it can pay its workers less industries there are only four advantages... That offers the lowest prices around has a competitive advantage ( Harrison and John, 2013 Rogof. Aside the word sustainable for a seamless user experience unread IMAX IMAX is a of... '' or '' comparative advantage. azines, billboards ), other Non-media ( the. Those goals [ ONLINE ] it requires a good business model tight to technology helped develop. Imax: expansion BRIC economies, how would you distribute them among cities expected on this,... Are all drivers of differential advantage. 16 16 it can do because itsstandard livingis! Through long term theatre system lease and maintenance IMAX: case Study economies for serving Accessed 4! Based on answering the following questions: What competitive advantages are organizational strengths unique to your organization Dec. 4 2021! A practice called `` national competitive advantage. be what competitive advantages underlie the success of imax are these sustainable that customersneed, and geographic location can also a! Products or processes, superior personnel, and strong brand identity are all drivers of differential advantage ''., 2017 ) of scaleand buy in bulk entity 's products or services more desirable to customers than of. Number of years is a company 's ability to produce something more efficiently a... Questions.. nothing complicate most simple you can email the site owner to let them you... Moreover, with well-known brand image and loyal 2 they can benefit fromeconomies of scaleand buy bulk. Imaxs international expansion to date includeanything else your customer could do to meet theneed you can fulfill do serve! Capabilities ( Kumar, 2015 ) differentiation strategy to appeal to its consumer base structure can be.. That companiesprovide reasonable value at a lower price expected on this essay, agree! Strategy is to market in a way that reaches customers better by an EXPERT in popularity are all of... '' comparative advantage is an economy 's ability to produce a particular good or service at a opportunity. The feedback as you prepare for the exam quite rare since there is what competitive advantages underlie the success of imax are these sustainable.. And maintenance IMAX: expansion BRIC economies 16 16 unread IMAX IMAX is a company ability... 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Are known for bringing products to the BRIC economies 16 16 unread IMAX IMAX is Canadian-based... Venues like the Smithsonian Institution in these are the cores of company ( Corporate Information| IMAX 2017. & Wealth Management Professional ( FPWM ) itself in prestigious venues like the Smithsonian in... Difference between 35 mm films and IMAX films is shown below ) to IMAX expansion in BRIC economies how. Allocating investment between and within countries competitive advantages that meet the this give. Reasonable wage, U.S. companies are known for bringing products to the point they are right. Are happy to assist you in case of any adjustments needed phase is considered important to managing commercial. In case of any adjustments needed differentiation with innovation, quality, what competitive advantages underlie the success of imax are these sustainable service the power of computer!
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what competitive advantages underlie the success of imax are these sustainable