Functional Competence at Louis Vuitton

Abstract

The usual events in the entrepreneurial sector during tough economic times, is shrinking enterprises and sudden death before their second anniversary. The reasons cited by many in the management of such firms cite the tightening economy as the driving force to their exit. Nevertheless, looking back on the Fortune 1000 list reveals that most successful enterprises including Pizza Hut, Microsoft and Exxon were all born during the depression.

This suggests that if an organization avoids leadership blind spots and commit their core competence to generate more value, the company will assume a lion share in the market, as the go-to brand in the improving financial situation. Sustaining the ability of the company to innovate and add more value to the clients, especially when most competitors are shrinking their product portfolio, is the greatest competitive edge (Caprino, 2013). This has been a solid foundation for Louis Vuitton, by developing its functional competence through artistic creativity, elegance and innovation insetting it apart from the crowd.