COMPETITIVE advantage competition-wise over its rival competitors

COMPETITIVE STRATEGYCompetitive strategy can be defined as the long-term plan of a particular company to enable it gain an advantage competition-wise over its rival competitors in the same industry. This type of strategy is often used in advertising campaigns by negatively showcasing a rival company’s product or service.This sort of system is coordinated at making a protective position in an industry and accomplishing a prevalent ROI (Return on Investment). return on initial capital investment measures the benefit or misfortune amassed on a venture relating to the measure of cash contributed, it is communicated in rate and is utilized to look at the productivity of at least two organizations.ROI = (Net Profit / Cost of Investment) x 100 Types of Competitive Strategy1. Cost leadership2. Differentiation leadership3. Cost focus4. Differentiation focusCost leadership: This type of strategy involves the firm becoming the lowest cost producer in the industry by producing in large scale which allows the firm to achieve economies of scale, this means This sort of system includes the firm turning into the most reduced cost maker in the business by delivering in extensive scale which enables the firm to accomplish economies of scale.. Then, the firm sells the cheaply made products to consumers at the lowest markup price possible thereby making it harder or virtually impossible for other competitors to compete, so At that point, the firm pitches the economically influenced items to customers at the most reduced markup to value conceivable in this manner making it harder or for all intents and purposes outlandish for different contenders to contend.This type is typically only employed by large companies, small companies cannot partake in this type of type of competitive strategy due to the involvement of economies of scale. Differentiation leadership: With this type of competitive strategy, companies offer a wide array of unique and different goods or services. Firms can target to achieve market leadership because other competing firms will not be able to surpass the company’s standards.Again, this is another type of competitive strategy that large companies and firms would most likely adopt due to the large investment of resources in the research and development of new products. Cost focus: This type of strategy is similar to the cost leadership strategy except that it focuses on a niche (specific) market. The company concentrates its efforts on a specific population area of the market and keeps its products low priced in an attempt to establish itself as the cheapest seller in that specific market area.For example, a service provider, like MTN, could choose to focus on a particular town or city and then strive to be the cheapest in the town only. This kind of strategy enables firms to satisfy consumers and gain popularity.Differentiation focus: Like the cost focus strategy, this type of strategy also focuses on a specific population area of the market, but instead of being the cheapest seller of a product, it tries to market that product to the specific area as a unique product or service, this way differentiating itself from one or more competitors.For example, a company could make a product specifically designed for gamers  For a multi-national company, the best types of competitive strategy to adopt would be Cost leadership and/or Differentiation leadership strategy   HUMAN RESOURCE MANAGEMENTHUMAN RESOURCES                                                           Human resources are the people who make up the workforce of an organization, business sector, or economy. it also includes recruiting,hiring and firing employees.Human resources are responsible of handling their employees relation,payroll,benefits and training it is also a multi-functional division within an organization, it also helps to interpret employment law. l                      FUNCTIONS OF HUMAN RESOURCES  Human resources helps to assess skilled candidates so that they they can put them in the right job within the company. they conduct training program for the new hire and the existing employees. They are responsible for training contracts and budgeting. They manage compensation programs that include fringe and other fringe benefits. They ensure employees receive the proper disclosure regarding benefit eligibility.   U.S.Bureau of  labour statistics: Human, Resources,Training,and                    Labour Relations Managers and Specialist.           WHY IS HUMAN RESOURCES IMPORTANT Human resources  are important because they have the  skills to negotiate group benefit packages for employees within the organization budget and consistent with the economic condition. They are familiar with employee benefits most likely to attract and retain workers.