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Competetive Advantages-Wachovia

In: Business and Management

Submitted By jcb2387
Words 549
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1. Competitive advantages are what companies are constantly striving to achieve. They create competition between organizations that are battling against one another for the top spot in the market place. These competitive advantages, such as faster technology and co-location of servers, offer a better product to the customers who are reaching out for certain goods and services. The improvement of the speed of technology has increased profits as well as competition between businesses that offer the same product. This situation will continue and is not sustainable. New and faster technology will always be introduced into the environment, creating rat races for the top spot. When the market moves, you move. Faster technology can sometimes decrease the need for employees, which can benefit companies by increasing their revenue. This can help smooth out volatility, the herd buying and selling in the trading business. One day, everything might just be ran by machines because technological innovation will always continue to grow. By coupling the storage blades with the processing blades, Wachovia was able to be more efficient at reading and writing temporary files. By using new technology, they were able to process capacity at 1/3 of the normal cost. New ideas and programs will always be changing but they will continue to make work more efficient. The co-location of servers created a faster time for information to be transferred and allowed for more monetary gain in just milliseconds. Since it’s not the speed of the servers that is a problem, only distance, it will stay constant unless they find a way to work right on top of the servers.

2. Coming up with new products or features can enable companies to be successful. The customer’s value, along with the right price, can give a competitive advantage. It is not all about the right cost, but also if the consumer…...

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