Key Planning Factors for Competitive Success in Business Essay.

Key Planning Factors for Competitive Success in Business Essay.

To succeed in business you must create a plan and then be willing to adapt that plan over time. There are several key planning factors for competitive success in business. To be able to stay ahead of the competition, you need to mold those factors into a business plan that will be the key to your company’s success. Key Planning Factors for Competitive Success in Business Essay.


When you create your business plan, it needs to have a focus on the key areas of your business. According to Birnbaum Associates, business strategy consultants, a business plan focus needs to dig down to the core of business functions and create plans based on business-specific issues. Saying that you would like to grow revenue by 10 percent a year for the first three years of your business is not a focused business statement. You need to use that as a general statement and then create bullet point lists of specific attributes and actions that will help you reach that goal. Speaking in general terms in a business plan will not help you compete in your industry.


Market Share

Capturing market share is one of the planning factors that drives many of the other attributes of your business planning. You and your competition are trying to reach the same target audience, so you need to determine those things that help separate you from the competition. Look at areas such as product support, upgrade features and product features that are relevant to your industry. Key Planning Factors for Competitive Success in Business Essay.For example, if you sell inventory software that helps customers project costs based on different levels of contract pricing but your competition does not, use that in your marketing. You can also create your advantage in areas such as pricing, product availability and online support.

Customer Service

One of the key planning factors in customer retention and maintaining a high customer-appreciation rating is good customer service. Efficient customer service does not happen by accident; it is the result of careful planning. Create a training schedule that will allow your customer service representatives to continually hone their skills. Develop a customer survey system that allows you to reach out to customers and ask important questions about such areas as product support, shipping and warranty satisfaction.Key Planning Factors for Competitive Success in Business Essay. To stay ahead of the competition, you need to know what your customers expect and what keeps them satisfied.

Product Quality

To stay ahead of the competition, you need to make sure that the quality of your product remains high. Defective product costs you money in repairs and replacement products, and it costs your customers time and money as well. Develop a product inspection standard that makes sure each product is operational when shipped, and create a manufacturing standard that offers a return on your customers’ investment through durability and reliability. Key Planning Factors for Competitive Success in Business Essay.

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