Laserfiche WebLink
` 5 <br /> St. Anthony Shopping Center <br /> Overall Market Enhancement Strategies <br /> Market enhancement strategies specifically address the strategies for the St. Anthony <br /> Shopping Center business area. Particular attention is paid to creating a proactive, market- <br /> driven strategy. Market driven strategies relate to what Michael Porter has referred to as <br /> "competitive advantages."' The competitive advantage principles used in this analysis are: <br /> • For a business to successfully expand, upgrade, and innovate, there must be a <br /> competitive advantage. <br /> • Businesses that do not innovate and grow will not survive in a competitive <br /> environment. <br /> The competitive advantage, according to Porter, has four primary"dynamic determinants." <br /> These determinants are listed as follows: <br /> • Factor conditions <br /> • Home demand <br /> • Related and supporting businesses <br /> • Firm strategy, structure, and rivalry <br /> In addition, government has a role in providing an environment that allows growth and <br /> innovation to occur. Government's role includes strong, but reasonable and consistent <br /> standards, and infrastructure. <br /> Competitiveness is dynamic it is always changing and each of the determinants interact <br /> with and are responsive to each of the other determinants. It can be said that each <br /> determinate supports growth and innovation. The following is a brief description of the <br /> dynamic determinants: <br /> Factor conditions include specialized labor force; location; special or unique <br /> infrastructure; housing; and even disadvantages that cause innovation to overcome these <br /> disadvantages. <br /> Home demands are customers, suppliers and related businesses who push companies to <br /> innovate, upgrade and develop to a higher level. Environmental, building and safety <br /> requirements are also considered home demands because reasonable, consistent standards <br /> cause businesses to innovate in order to achieve the standards. This push to innovate may <br /> be in the form of unique niche businesses, such as specialized home improvement services <br /> that are not reasonably available elsewhere. Local customers, including businesses, who <br /> demand quality products at a reasonable price, create home demand. <br /> Competitive Advantage offations,1990 <br /> 2 <br />