Competitive Advantage: Six Processes to Maintain Innovation in PG&E

Exploring Competitive Advantage and the Six Processes to Maintain Innovation in PG&E Author’s Name Institutional Affiliation Exploring Competitive Advantage and the Six Processes to Maintain Innovation in PG&E Introduction Organizations significantly work on improving their competitive advantage to be sustainable in a modest environment. As per the research by Distanont and Khongmalai (2018), it demonstrates that innovation is the crucial tool to enhance the business potential for being prolific in resources and opportunities. In this way, the paper highlights the competitive intensity of Pacific Gas and Electric Company by considering its leadership philosophy, competitive advantage and R&D practices. Discussion Due to the dynamic business setting, developing innovation in the business is the most effective need. The research of Hisrich and Kearney (2014) proposes six elements of competitive advantage to maintain innovation in the business. Those elements include the adoption of the external environment, customer-focused business strategies, flexible working practices to meet the diverse environment demand, responsive transformation in business practices, highly differentiated to compete for rivals and strong engagement in R&D activities. Thereby, many organizations actively utilize those six elements to enhance the competitive advantage of the business to attain positive outcomes. The research further discusses the competitive elements in case of PG&E’s below. PG&E Leadership Philosophy on Innovation By overviewing the leadership philosophy of PG&E, it identifies that the company provides high authority to the leaders for enforcing change within the organization and influence employees extraordinarily for potential gain. The inclusive and diverse culture of PG&E supports leaders to be responsive to environmental challenges. Thus, leaders train employees about the diversity and innovation demand of the business and help them to resolve the organizational challenges. The committee of compliance and public policy under organizational leader work progressively towards the adoption of flexibility in business culture (PG&E Corporation, 2017). Consequently, leadership program and workshops play the substantial role in encouraging employees to adopt the best practices in working as per the diverse environment, which further enhances the competitive advantage of PG&E due to the emergence of excessive opportunities for business. Activities to Sustain Competitive Advantage PG&E continuously works towards the betterment of its organizational practices to enhance its stability and competitiveness in the aggressive competition. The study of PG&E Corp. (2017) highlights that the company excels in three areas, which makes it distinct from other companies including diversity and inclusion; leadership and corporate sustainability and innovation. Therefore, the company magnificently adopts the six elements of competitive advantage especially transformation in business practices as the ...