Vancity Competitive Advantage

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Vancity: On Top of Its Game 1) Vancity manages to deliver significant competitive advantages over its competitors through multiple trials. Mastering a competitive advantage sets apart a company from its rivals in a distinct way. Overall there are three ways Vancity accomplishes this feat. Firstly, through costs by retaining employees with competitive wages, bonuses and incentives. This investment into the employees guarantee community in the workplace which is proactive in the completion of job tasks. Some competitors loose focus of this and treat employees in a derogatory manner to make money which inhibits productivity. Secondly, through delivery by serving local customers and staff. With Vancity being dedicated to help and consistently give …show more content…

Furthermore, there are 5 stakeholders that Vancity interacts with they are: owners, customers, employees, competitors, and society at large. Firstly, owners get value through profits and performance of the company. This realization helps determine if the company is successful to keep in the long run. Secondly, customers want the cheapest price and best quality for the service. They receive this through knowledgeable employees who are enthusiastic about their job and charge affordable prices to customers who use the credit union. Thirdly, employees receive value from an open and flexible work environment. Vancity does this through programs for advancement and health, compressed workweeks, and personal development. Fourthly, competitors bring more customers in that are looking for deals and great service. This can help adjacent credit unions because of the sparked interest in using Vancity, this can help their businesses grow and adapt. Lastly, society at large gets significant value from green initiatives, grants, and community ventures. These goals help not only the image of Vancity but increase awareness to these ventures for better results. Thereby investing in the community to make sure that not only Vancity is growing in size but the lifestyle of the neighbourhood

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