Question

Discuss measures related to cost, quality, time and flexibility.

Answer 1

purpose of this research was to explore and predict the relationship between the competitive priorities (quality, cost, flexibility and delivery) and the competitive advantage of firms in the Jordanian Industrial Sector. A population of 88 Jordanian manufacturing firms, registered on the Amman Stock Exchange, was targeted using a cross-sectional survey employing a questionnaire method of data collection. The results of the data analysis indicate a significant relationship between competitive priorities and competitive advantage. The research suggests that recognising and nurturing this relationship provides the master key for a firm to survive in a turbulent environment. Therefore, operational and marketing strategies should place emphasis on competitive priorities such as quality, cost, flexibility and delivery to achieve, develop and maintain competitive advantage. This study is one of the first to examine the relationship between the competitive priorities of Jordanian manufacturing firms and their competitive advantage.1. IntroductionThere exists a rich body of knowledge on the nature and causes of competitive advantage and competitive priorities in the strategy literature, ranging from the industry positioning approach and the commitment explanation to the resource-based view and the dynamic capability approach [1]. The concept of competitive advantage needs to be tested empirically to determine the competitive priorities which create a firm’s competitiveness. However, little empirical work has been undertaken to address this issue. In this context, [2] states that “there are [few] empirically derived taxonomies that characterise manufacturers by manufacturing tasks or competitive priorities, such as quality, delivery, flexibility, or cost”. There is a need, therefore, to conduct empirical studies which address and analyse the functions and processes which create the competitive advantage of a firm.2. Literature Review2.1. Competitive AdvantageAs firms are