let's expand our business using 'five generic competitive strategies'..:)

Peace be upon you! *wink*

Ah, today is Sunday..should I just relax around?? Hee, I better not or else this blog is continuously get postpone. Before I start, I would like to share what I’ve got from yesterday’s programme. It just like a seminar called ‘Bimbingan Kerjaya’ organized by Pembimbing Rakan Universiti (PRU) with collaboration from TaHa@u, Berita Harian, Media Prima Berhad and Avon. It mostly talked about the preparations to go to an interview and also in a workplace. For instance, communicate well in Malay and English language, confident, have a positive and good credibility etc. The third slot was so interesting. It was given by Zahariz Huzaima titled the ‘Malaysian nomad’ which was referred to him. He shared his experience on how he first got to be a nomad person. It started on 2010 in China, he bought a bicycle, tent, and other equipment to live and travelled alone. There are also times where things get so dangerous and his life could be taken away. The first one was when he nearly fell into a cliff when preventing himself from getting hit by a bus in a mountain in China. The second one was when he run out of water in Taklamakan dessert and he had to cycle 400km more to get out of the dessert, but thankfully there are Chinese army passing through and helped him. The third time was when he fell into a freeze river in Sweden and struggled to get out of it. I need to watch his stories to know more. So everybody, let’s watch his documentary every Sunday at 8.30 pm only on tv al-Hijrah. The fifth and sixth slot is also so enjoyable slot which conducted by Ustaz Dr Mohd Izhar Ariff and Ally Iskandar. They really bring much laughter to all of us.

      Okay, how if we start the sharing about my SM lecture. This time, we learned about the five generic competitive strategies. They are; 1) A low-cost provider strategy. 2) A broad differentiation strategy. 3) A focused low-cost strategy. 4) A focused differentiation strategy. 5) A best-cost provider strategy. 

     These strategies are so important as to differentiate our product with other competitors and gain customer’s loyalty. Through this class, I had more understand about economies of scale which is where we can reduce the cost for one unit of production by producing big amount or by bulk. I also want to touch about direct selling, where we use agent to sell our product to people directly. During tutorial class, Madam Huda had shared her experience working as direct seller. It was so hard as she had to turn down her shame and meet any people she see to promote and sell her company’s product, something like snack but I forgot the name/brand. She got her wages by commission, so it depends on her selling. If she work hard and manage to sell many of snacks means she will get high commission and also otherwise. Through this lecture also I learned that offering a low cost product is the best way to win the business of price-sensitive buyers, set the floor on market price and still earn a profit. Well, it makes sense, buyers definitely seek for low price for certain product or service and we as the seller will find the best low price to satisfy the buyers but still gain profit. The companies that use this strategy are Mydin, Air Asia, Dell and McDonalds. But, to succeed in employing a low-cost provider strategy, a company must have the resources and capabilities to keep its costs below those of its competitors. Mistake in any part of the management maybe will lead to loss..who knows? All in all, for all types of generic strategies, success in sustaining the competitive edge depends on resources and capabilities that rivals have a hard time duplicating and for which there are no good substitutes.

I think that’s all for now. I’ll meet u later..Assalamualaikum!