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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1307 |
Essay's paper body
There are many firms within the trading industry all with various skills specializing in various areas of the industry. Firms compete on the basis of price and value added activities but because of the low cost of switching between traders, firms need to compete intensely to retain their clientele.
The competencies that are critical to succeeding in this industry are primarily the ability to deliver significant value through customer service activities while offering competitive prices...
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In order to do this a successful firm must have a global footprint. It must have the ability to source raw materials from those parts of the world where they are the cheapest and manufacture the goods in those parts of the world where the labor is cheapest, all of this while insuring the quality and timely delivery of the goods...
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