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Week 5 – Competitive Rivalry and Competitive Dynamics – Chapter five ?

Competitive dynamics and competitive behavior, as discussed in Ch. 5, are two actions and sometimes responses that firms take in their quest to keep up with their competitors in the industry. Tell us about how your company competes.

1. Identify your company.

2. Discuss the competitive dynamics of your company’s market.

3. Describe how your company has engaged in competitive behavior with it’s rivals.

4. Indicate how these actions have allowed your firm to stay competitive in its market.

5. Infer actions your company may undertake in the future to improve or protect their market position.

Your job is to answer this question in 500 words at a minimum and then ask an “open ended” question using the “Ask a New Question” button, based on the chapter that can be answered by your peers using the textbook !!!!!! In addition to answering the question shown above, you must respond to one of your fellow classmates questions.

RELEVANT VOCABULARY

As these definitions are available here, do NOT define them in your posts.

competitive dynamics – “the total set of competitive actions and responses taken by all firms competing within a market” (Hitt et al., 2020, p. 161). Slow-, fast-, and standard- cycle markets have different competitive dynamics.

competitive behavior – “the set of competitive actions and responses a firm takes to build or defend its competitive advantages and to improve its market position” (Hitt et al., 2020, p. 144). Firms engage in competitive behavior when they have awareness, motivation, and ability to do so (Hitt et al., 2020, p. 152).

market position – a company’s rank compared to others in its market, in terms of perceived product/service quality, market share, or performance.

market share – “the percent of total sales in an industry generated by a particular company” (Hayes, 2021)

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