Assignment 1 Yahoo and Amazon

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YAHOO AND AMAZON: BUILDING A COMPETITIVE ADVANTAGE Dr. Parise Katrina Harris BUS599: Strategic Management April 26, 2014 Introduction Effective strategic planning provides the basic foundation through which an industry can attain competitive advantages over others. Taking competitive advantage over others is the advantage over the others in industry. The competitive advantage can only be achieved through solid strategic planning. Strategic objectives are the objectives of organization that is very important to achieve organizational success. Strategic objectives are long term goals of the organization. It helps the organization to convert its broad vision in some specific goals and plans in order to meet organizational success. Analysis of target market must be defined first before identifying competition accurately. After developing some competitive advantage, it will be daily challenged. To beat the competitors and meet the strategic objectives of the company, it is most important to identifying the new areas where there is an opportunity to flourish. It is very important to look at different trends that will expected to emerge in order to plan the strategies which may make the company capable to develop competitive advantages over others in industry. It will help company to closely track its competitors and their future plans as well. It is important to analyse that how the needs and preferences of customers will change with passage of time by changing trends and circumstances (Amit & Zott, 2001). There are large numbers of companies who have developed their smart objectives to gain competitive advantages. In this paper we will discuss different ways in which Yahoo and Amazon have taken steps to build competitive advantage and lead the industry. a brief history

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