Emirates Aluminium (EMAL) is a company that is based in the United Arab Emirates. The company boasts of having a state of the art factory that has enabled it to become one of the biggest aluminium smelters in the world. The company’s mission is to provide the world with high quality aluminium that can be used to serve different purposes.
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Suggestions on how EMAL can improve its competitive advantage
Competitive advantage can be defined as the benefit that a particular company has over its main competitors. Competitive advantage enables a company to increase its market presence. It also helps a company win more customers (Sanchez & Heene 2010). Competitive advantage gives a company an edge over its main rivals. EMAL’s vision is to become the largest aluminium smelter in the world. The following are suggestions on how EMAL can improve its competitive advantage:
The company should look for ways through which it can be able to reduce its cost of production. By reducing its cost of production, the company will be able to provide its customers with high quality products at low prices.
This will enable the company to win more customers as customers are always looking for products that maximize their utility. The company should improve its infrastructure so as to be able to produce high quality goods at low prices (Keller & Price 2011). EMAL should also invest in acquiring the latest smelting equipment so as to be able to reduce its cost of production.
The company should ensure that it embraces innovation. Embracing innovation will enable the company to come up with new and unique products. Embracing innovation will also encourage the company to come up with ways through which it can be able to improve the quality of some of its existing products. This will help the company increase the level of customer satisfaction (Singh 2008).
Responding to its customers’ needs
EMAL has to make sure that its customers are always satisfied. Research has shown that satisfied customers are more likely to make a repeat purchase in the future as compared to customers who are not content. It is important that the company comes up with various ways of getting feedback from its customers.
The information obtained should be used to improve the quality of the company’s products while ensuring that the products are also affordable (Keller & Price 2011). This will provide that the company’s products are able to satisfy the needs of its customers. This will help EMAL maintain a competitive advantage over its main rivals.
Improving the quality of their goods
To maintain a competitive advantage over its main rivals, the company should always ensure that it produces high quality products that meet the needs of its customers (Sanchez & Heene 2010). By producing high quality products, the company will be able to increase its market presence and this will help the company attain its vision of becoming the largest aluminium smelter in the world.
Creating a competitive advantage is important because it makes sure that the company is able to yield maximum profit while increasing its market share. It also helps a company compete effectively with its rivals. To create a competitive advantage, EMAL has to improve the quality of its products, embrace innovation, respond to customers’ needs and increase efficiency level.
Keller, S., & Price, C. (2011). Beyond performance how great organizations build ultimate competitive advantage. Hoboken, N.J.: Wiley.
Sanchez, R., & Heene, A. (2010). Enhancing competences for competitive advantage. Bingley, UK: Emerald Group.
Singh, M. (2008). Strategic management and competitive advantage. New Delhi: Global India Publications.