Question

In understanding "where we are now", businesses must identify customers, competencies, and competitors. Explain this concept using an example.

Answer 1

Where we are now :- This explains the company's current market position, their market share, revenue growth , products portfolio with respect to the industry which the organization having its presence.

Considering the example of organization GE healthcare. The company has its presence over 120 countries in global level The organizations is a part of GE conglomerates and producing health care equipment like X ray machino, ultra sound machines etc. The company at present has a market share of 20 % of healthcare systems across globe and they have maximum customers in the region of USA and Europe

Customers :- The major customers are hospitals, clinics, medical colleges and diagnosing centres . Thus the company is mostly into B2B business.

Competencies:- The major competency is the legacy ot GE in terms of quality of products and services with maximising customer satisfaction. The company invest a lot on technology and product research and development which enables them to gain more patents than any of their competitors.

Competitors:- Simens, Phillips are their major global competitors in this business. Both of them are very agressive in their own market wth similar or substitute products. In the last few years the price war happening between all the major players create a stiff competition which results in lower margin or profit from the product. GE HealthCare strive hard to reduce their operations cost and providing cusotmers with best price and proper value addition through their products. The setvice or after sales aspects of business is also taken care of very seriously which helps them to gain more customers and enhance their market share. Company focus on sustainability aspects of product development and green logisitcs kind ot initiative provide them with upper hand.