Strategic Management: Better World Books Inc.

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Better World Books Inc. is a company founded in the year 2002. The electronic commerce company focuses on selling used and new books. Christopher Fuchs, Xavier Helgesen, and Jeff Kurtzman are the initiators of the company (Rothaermel, 2013). In every sale the company makes, savings are generated for literacy initiatives both locally and abroad.

With up to 7 million new and recycled books in their stores, the company is definitely a viable enterprise that meets the social, financial, and conservational standards of its stakeholders.

With increased competition from other online retailers and reducing profits, the company should try to surpass their rivals by offering unbeatable products and services (Rothaermel, 2013). Through this, the company will gain a competitive advantage. The article below focuses on how the company should differentiate its products and services.

For Better World Books to identify its strategic capabilities and to sustain its competitive advantage, it must fulfill some key factors. One of the key factors is value addition. Recession in many markets combined with new sources of competition has raised the consciousness of customers towards value (Lucas, 2002).

Therefore, the company should note that value in today’s context does not only mean money, but also the perceived benefits of the product offered. Customers are increasingly demanding products with benefit at a lower cost.

Considered that the company’s success has attracted numerous competitors, it will not be long before these company’s eat into their customers through product reduction. Therefore, the company must be on the look to identify ways of retaining their customers and attracting more customers.

One major way of fulfilling the above is through value addition. As such, the company stock comprises of recycled books. Therefore, the company should add value to these books before being sold. The company can work together with the books’ authors, if possible, in value addition initiatives. Through this, the authors will be required to sign their autographs on the older books. By doing so, the value of the books will increase.

Similarly, the company should focus on improving the books’ covers to enhance their aesthetic appeal. Torn book covers or dirty book covers should be replaced. Similarly, the company can design impressive leather book covers to be used on classical books. Through the above initiatives, the company will be able to add value to their products and gain competitive advantage over its rivals.

On the company’s website, a number of clients complain about the time it takes for their orders to be delivered. Therefore, if the company wants to differentiate its products and services it must offer unbeatable logistics. They should try to deliver their orders within the shortest time possible. The time should be shorter than that offered by their competitors.

To achieve this, the company should ensure that they always work with distribution channels that are providing efficient, quick, and safe delivery. By doing so, they would foster consumer confidence and reduce the risks of their rivals getting hold of their suppliers.

Similarly, the company should not bring into play third party logistics corporations to accomplish the orders taken from their website. They should always handle their delivery in house as they have done in the past. Through this, they will be able to be in charge of their customers’ satisfaction.

In addition, the company can collaborate or merge with other companies with similar visions to differentiate their products and services. To leverage its strategic capabilities and achieve a competitive advantage, the company should always strive to make it easy for customers to carry out business with them by collaborating with the best partners.

Through this, millions of potential clients, book donors, or possible partners will be informed about their product and services. If the company does so, they would modify the competitive landscape. Thus, going forward the company should always be ready to acquire or collaborate with the best partners to make it easy for their customers to carry out business with them.

The company can also differentiate its products and services by being innovative. Through continuous innovation, the company can outperform its direct and indirect competitors.

Other than retailing old and new books only, the company should identify other fast moving learning products and services to be included in their stock. For instance, they can sell new and recycled learning materials such as pencils, biro pens, CD ROMS, flash disks, and e-books. By doing so, they will be able to increase their source of income.

Lastly, with technological advancements they should always be ready to adopt innovations in their service to ensure that they remain relevant in the business field (Zerdick, 2008). Through social media, they should encourage more individuals to donate old books rather than disposing them.

They should also interact with potential clients to understand their expectations. In the same way, they should always be ready to keep pace with the changes in the market opportunities. The social media can also enable them to improve their relations with the customers.

References

Lucas, H. (2002). Strategies for electronic commerce and the Internet. Cambridge, Mass: MIT Press.

Rothaermel, F. (2013). Strategic management: Concepts & cases. New York: McGraw Hill Irwin.

Zerdick, A. (2008). E-conomics: strategies for the digital marketplace. Berlin.: Springer.

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Strategic Management: Better World Books Inc.

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