ABB Competitive Advantage
(3) Competitive Advantage
What is a competitive advantage? In an economy based on competition, a company has to develop some basic things (e.g. strategy) in their way of business practice in order to ensure their survival which separates it from their competitors or leads to an advance in the competitive market. The aim of ABB is, that until this year and for the further future, the company will be seen as a top-ranking firm in terms of sustainable business practice and will be a significant player leading to a more effective world in sustainable manners. (1) That means, ABB has to prove a strategy which allows them to be superior compared to competitors in the energy sector.
One big advantage to competitors is ABB’s large installed customer base and geographically broad positioning related to their operations in over 100 countries.
In order to maintain the relations to present (and possible new) customers, the company’s reputation is a significant criterion. ABB ranked in several business comparing lists, including in 2014 for the third time in “World’s top 100 innovators” by Thomson Reuters(3) and as #15 in “The World’s Best Companies” in 2009 by Bloomberg Business Week.
Moreover, an important issue in order to fulfil the aims of a company’s competitive advantage is Research & Development. A firm’s decision-making-processes and organizational structure are important in facilitating knowledge transmission. ABB annually invested more than $1.3 billion dollars in
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