The Ways Of Competitive Advantage Development Assignment

The Ways Of Competitive Advantage Development - Assignment Example The government through its trade and finance departments play a significant role in making sure all SMEs obtain relevant information about the orientations. In addition, commercial banks, investment banks, and other financial institutions help the enterprises through the provision of credit facilities and guidance on feasible investment destinations (Reijonen 2012). The most significant aspect of orientation is developing a comprehensible understanding of how SMEs perceive and put the concept of marketing into practice. The practices of SMEs will determine their distinctive size, industry or even the crop of customers. Enterprises have adopted unique policies and practices that have to ensure their stability or growth. Bad decisions have resulted to decline in the performance of certain SMEs. However, the government plays important role in the process of ensuring all SMEs have equal opportunities to expand if they have attained all legal formalities. Market orientation is a business approach whose focus is to identify and meet the affirmed wants or needs of prospective customers. According to the philosophy of market orientation, all SMEs must create strategies and policies that are in consensus with the changing demands and expectations of consumers within its niche in the market. These enterprises are vital to the process of driving innovation and competition not only in the US but also in the world at large. They are arguably the backbone of major economies of the world, US included.... According to the philosophy of market orientation, all SMEs must create strategies and policies that are in consensus with the changing demands and expectations of consumers within its niche in the market (Porter & Kramer 62). These enterprises are vital to the process of driving innovation and competition not only in the US but also in the world at large. They are arguably the backbone of major economies of the world, US included. The enterprises provide the biggest chunk of employment opportunities to Americans (Porter & Kramer 2011). Besides, they account for the largest group of exporters in the US and largely rely on imported goods for production processes. The market outlook compliments the market orientation towards examining and resolving poor performance in the past, consumer demand, existing economic aspects, and business opinion. Interactions between market orientation and brand orientation will either promote or derail the competitive advantage of SMEs (Porter & Kramer 20 11). The brand orientation is identity-driven and always views the brand as the hub for a business organization together with its strategy. For enterprises whose major concern is brand orientation, it is inevitable to design brands that excel in the market against competitor’s which then appear less superior (Porter & Kramer 2011). Brand orientation is a costly process since it demands extensive and all-inclusive consultations. In contrast, market orientation is image-driven. The image of an organization will determine whether it is marketable and has incredible niche in the highly competitive market. Over the past few decades, brand orientation and market orientation appeared to have diverse strategic options. However, the perception has changed over the