Introduction
The company’s competitive advantages are created by the company’s unique assets: tangible and intangible. As a result of using these assets, the company makes a competitive strategy. The strategy always aims to create value for the client, which competitors should not copy (McGrath, 2013). Competitive advantages are unique aspects of a business’ product that are taken into consideration when conducting the SWOT analysis and which are satisfactory to specific customer groups. However, some of them are transient, that is, short-lived. Yet they do not undermine the organizational value but rather promote it forward. Hence, even though a transient advantage remains an insufficiently investigated phenomenon, it has a special business purpose and meaning applicable to a company’s development.
Discussion
Competitive advantages are a key factor that allows one to gain a leading position in the market and allows the company to develop successfully. In need, all companies are the targets of their rivals’ attacks which can come both from new market participants and companies that have been working on it for a long time, seeking to improve their market positions (McGrath, 2013). The goal of a defensive strategy is to reduce the risk of being attacked, mitigate the consequences of those attacks that have occurred, and influence competitors in order to transfer their attacks to other rivals. As a primary defensive mechanism, the organizations create a transient advantage.
This advantage can be defined as a short-lived measure introduced to outperform main competitors in the industry. According to McGrath (2013), companies attempt to use the most innovative technologies that help create such an invention that ensures organizational success. To my mind, a transient advantage is one of the primary drivers of a company’s development because it makes employers and employees think creatively. By doing so, they come up with the most advanced solutions to the problem.
What is more, a transient strategy enables a business to enlarge a number of other competitive advantages. For example, suppose a company focuses on an innovative marketing system (which further becomes their transient benefit). In that case, they boost other edges such as product quality, customer base, and so on (McGrath, 2013). Nowadays, it is becoming a norm to focus on a transient strategy since the business industry is ever-changing, and numerous changes are introduced annually. Hence, a manufacturer should be able to concentrate on adjusting to alterations and respond quickly.
In addition, I believe that transient advantage concerns renovating the corporate culture. It implies that the innovations also affect the internal environment and hierarchy in the business structure (McGrath, 2013). For instance, when the company starts working on a new project, employees responsible for its development become on demand as their accountability is to present the action plan. In the meantime, other departments may be involved in the later stages of its elaboration.
Conclusion
In conclusion, competitive advantages are a set of differences that makes one business more promising than others and, ultimately, more attractive to the client. Sometimes, the company needs to react to changes in the business environment by introducing a new transient competitive advantage. When using this strategy, success can be guaranteed because such a method allows for presenting the most innovative approaches to solving a problem. In my opinion, despite the short life of this advantage, it may bring drastic changes and promote one’s business.
Reference
McGrath, R. (2013). The end of competitive advantage. Harvard Business Press.