Time Based Competition. The Key Driver of Global Market Performance
- ISBN-10
- 3668881480
- ISBN-13
- 9783668881488
- Category
- Business & Economics
- Pages
- 10
- Language
- English
- Published
- 2019-02-20
- Publisher
- GRIN Verlag
- Author
- Timothy Mwangi Nduru
Description
Research Paper (undergraduate) from the year 2019 in the subject Business economics - Business Management, Corporate Governance, Dedan Kimathi University of Technology, course: MSC supply Chain Management, language: English, abstract: Competition is a key driver of global market performance. For many decades’ businesses have been excelling based on the strategy adopted by the management. Notably, the wrong choice of strategy is likely to derail the firm from achieving its potential. This paper discusses one of the main business strategies that has been warmly embraced in the last decade. Time-based competition has been a key driver of competition in the global market since 1990. It has discussed the main basis of time competition which includes; Product Development and Introduction Time, Material Lead Time, Delivery Time and Throughput Time. Notably, all these time bases for competition affects the global market performance of an organization in different ways. Equally, the several measures needed to effect these measures fully have discussed in details. However, in determining the effectiveness of the time-based competition as a strategy, the management has to asses several measures. Such measures include profitability, growth in market share, customer’s satisfaction, increased productivity and sales. Throughout the paper, it is evident that time-based competition is a crucial driver of global market performance as opposed to quality and cost-based competition which are currently considered as enablers in the business environment. Therefore, time-based competition should be fully embraced by light-minded managers that seek to remain relevant in the competitive global market.
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