Overall Strategy: Industry Application
“Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction.” – Sam Walton (Founder Of Walmart)
Prep101 is a study service at UBC and they are a great example of a company that is resistant to change. Currently they are undergoing an issue with a new but successful competitor, Beat Your Course. Prep101 is older and unfortunately now is becoming known as outdated. In order to compete with Beat Your Course, Prep101 needs to undergo change with its branding. Prep101 slowly is changing small aspects to their brand, such as, slightly changing its logo. However, these small changes are having little effects because Beat Your Course is undergoing faster growth with large initiatives.
Walmart exemplifies a company that is able to lower costs with one of the top inventory systems. When most companies uses regular warehouses to store inventory, Walmart successfully uses cross docking. Cross docking is a different method to handle inventory without having to store in warehouses. Walmart’s costs are significantly reduced by using this method. As a result, Walmart has a competitive edge among its competitors.