Businesses implement various strategies in order to sustain in the competitive market. Depending on the business type and culture, these strategies are founded on a firm's vision, mission, and goals. Aside from these, business organizations must also identify the market that they intend to serve so that their products or services are positioned well, prior to the type of needs to be addressed. In addition, competition can also be deemed as an essential consideration in undertaking business operations as it has been a powerful force in identifying either the success or failure of business organizations. Indeed, there are various factors that must be carefully looked into when managing businesses, aside from the fundamental goal of gaining profits. Through the resources, capital, and people, these business assets are considered as the constant factors that would predominantly serve as the core elements of expanding and in generating profits. It is also essential to take note of the value of competitive advantage in predicting the future of the business prior to successfully meeting the business challenges. Business organizations strive to develop and generate better services due to the current technological changes and as well the changing demands and preferences of customers. This promotes an essential aspect and process of addressing such tendencies, through strategy formulation. Moreover, identifying the perfect strategies would intensify and strengthen the capabilities of companies to cope within the competitive market, locally and globally.
Harley Davidson Motors have already been in the motorcycle industry for over a hundred years and are known as one of the best motorcycle manufacturers in the world. Historically, the motor business of the Harley Davidson started in the early 1900's where William S. Harley and Arthur Davidson developed a motorbike. In 1903, the first bike by Harley and Davidson was constructed and was available to the public.