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Shatakshi Tripathi wrote a new post
I am not very sure about the percentage of readers who know about the Buridan’s Ass concept. Let me assume that the ratio of knowing it is 50-50. Now since 50% know about it already, I should not write an article a
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Great!
Innovating is the way to survive. But it is quite impossible to keep innovating always…there are limitations in terms of resources, feasibility and scope. I believe, along with innovation , a company should focus on creating a strategy that would allow it to maintain its point of disparity(POD) and make it inimitable at the same time.. one of the ways to do that is to achieve POD by differentiating ‘across’ activities. For example, POD by offering low cost will not survive long, it will lead to a price war. However, if the company offers a low price based on low cost solution (like Walmart, which initially lowered its cost by opening stores in non-urban areas, hence cheaper rents; reduced material cost by buying its own warehouses and pick up trucks, which in turn allowed it to gain bargaining power with vendors; reducing employee cost by automating check out processes and automatic ordering). A competitor can copy some of them, but not all of them. This difference would allow a sustainable growth. 🙂-
I guess I should have worked more on explaining the idea of innovation. Innovation is not restricted to technology only; it is about every thing that relates to any thing of your product. Though I personally feel that playing a price game is the worst of a business strategy. There are always options that we need to look upon. Of-course Walmart was one of a kind but in general market situations as far as my analysis goes, companies usually do not indulge into a price war. The indulge in a variation of what you wrote in the last line. 🙂
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Shatakshi Tripathi joined the group IIM Indore
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Abhirup and Shatakshi Tripathi are now friends
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Sarthak Brahma and Shatakshi Tripathi are now friends
Latest Articles
Theory of Common Sense Involving Decisions
- December 21, 2014
Buridan’s Ass and Points of Disparity Concept
- November 30, 2014
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