ion of production, where it hopes to take advantage of reduced labor, energy, and capital cost and increase revenue. However, Globalized marketing often creates intense competition, which is why I suspect that Dow Chemical feels industrially safer by focusing on its niche, and increasing product innovations were its feels it has a significant competitive advantage with its consumer base. Dow Chemical chose to capitalize on its value creation, low cost and differentiation by merging with Union Carbide. By exercising this market opportunity, Dow Chemicals can continue with new product innovations in overseas locations and can increase their competitive advantage by gaining access to the Middle East and Asian markets where Union Carbide is strong. The core elements to a successful competitive advantage are the Generic building blocks. They are:a) Efficiency: By operating at the lowest possible production cost and maximizing profits.b) Quality: By producing a product that meets or exceeds your customer demands and thereby building brand Equity and Brand loyalty.c) Innovative: By investing in research and development to develop products that meet your changing customer demands, and influencing barriers to entry and exit. d) Customer Responsiveness: By applying corporate ownership/responsibility for the product that you provide, and becoming socially responsible for related community and environmental concerns. Is Dow Chemicals considered successful? I would say that they have embarked upon a sound business strategy, but the their industrial market will be forever changing, and in order for them to remain competitive, they also must remain open to new innovations and markets. I will address this more in the following paragraphs. I would recommend the following suggested future management actions and strategies towards maintaining or improving Dow Chemicals current strides for a competitive advantage. First, I would suggest a continued...
