The Importance Of Competitive Strategy

831 Words2 Pages
bulb-icon

Recommended: Strategic capabilities advantage

In order for an organization to increase its value over a period of time it uses what is often referred to as strategic capability. With this process, businesses use competitive strategies to reach targets. (Hartman, n.d.) As competitive strategy goes hand in hand with strategic capabilities, the Business Directory defines competitive strategy as a “long term action-plan that is devised to help a company gain a competitive advantage over its rival.” It goes on to state that these strategies are useful in relation to discrediting another organization’s products or services; as such, they are a main part of advertising campaigns. (Business Directory, n.d.) Laureate Education further explains strategic capabilities as key elements of an organization …show more content…

Also, managers must seek help for those in need ad have an “eye” for detecting problems, whether it be problems in the organization or someone secretly having problems at home. As such, collective intelligence, deemed “organizational knowledge” is derived. (Johnson, et al., 2014) References
Business Directory, n.d. Competitive Strategy. [Online]

Available at: http://www.businessdictionary.com/definition/competitive-strategy.html
[Accessed 19 November 2016].

Hartman, D., n.d. What is Strategic Capability?. [Online]
Available at: http://smallbusiness.chron.com/strategic-capability-15828.html
[Accessed 19 November 2016].

Johnson, G., Whittington, R., Scholes, K., Angwin, D. & Regnér, P. (2014) Exploring strategy text & cases. 10th Ed. Harlow: Pearson.

Joseph, C., n.d. Advantages & Disadvantages of Telesales. [Online]
Available at: http://www.ehow.com/list_5972333_advantages-disadvantages-telesales.html
[Accessed 19 November 2016].

Laureate Education Inc, 2014. Week 8 Key Concept Overview.

Show More
Related

  • SWOT Analysis: Green Mountain Coffee Roaster and Keurig Coffee Inc.

    2299 Words  | 5 Pages

    Dess, G. G., Lumpkin, G. T., Eisner, A. B., & McNamara, G. (2012). Strategic Management: Text & Cases (6th Ed.). New York, NY: McGraw-Hill.

    Read More

  • Trouble at City Zoo Case Study

    3705 Words  | 8 Pages

    Thompson, Arthur, John Gamble, John Gamble, A. III, and Alonzo Strickland. Strategy. McGraw-Hill/Irwin, 2005. 299. Print.

    Read More

  • Drivers of Organizational Change and the Keys to Successful Organizational Change

    1306 Words  | 3 Pages

    Porter, M. E. (2008). The five competitive forces that shape strategy. Special Issue on HBS Centennial. Harvard Business Review 86(1).

    Read More

  • Gore Case Analysis

    919 Words  | 2 Pages

    Grant, R. M. (2010). W.L. Gore & Associates: Who’s in Charge Here? In Cases to accompany contemporary strategy analysis (pp. 249-263). UK: John Wiley & Sons Ltd.

    Read More

  • Analysis Of 3M

    3244 Words  | 7 Pages

    In relation to this report a businesses capabilities will be referring to the organisations, in this case 3M, ability to use their resources, expertise and capacity to perform core functions (Elgar, 2005, pp. 17-21). (Woods, 2012, pp. 2-5) State that strategy is the long-term direction of an organisation, furthermore strategic capability is the capabilities that contribute to long term survival or competitive advantage (Woods, 2012, pp. 50-52). Competitive advantage is...

    Read More

  • Amazon Competitive Advantage Case Study

    1173 Words  | 3 Pages

    Competitive advantage is the advantage for the competitors and gained by the offerings from the consumers that have the greater value either by the low prices of the products and by providing the benefits and services to the consumers that denotes the high price. It is a set of the innovative and different features of the company and the products and services sale to the consumers so that company can achieve the targets what they have decided and it is the betterment for the enterprise in the competitive market (Porter, 2011). There are three determinants which can be used in the competitive advantage that what the company produce for their consumers, their target market that what they have to achieved and the competition from the other entity

    Read More

  • Analysis of Zamnet Communication Systems Using the McKinsey’s 7S Model

    2784 Words  | 6 Pages

    John G. S., 2008: Strategically thinking about the subject of Strategy [e-journal] 9(4) p.2 Available through:

    Read More

  • Honda Essay

    1414 Words  | 3 Pages

    Johnson, G., Scholes, K., & Whittington, R. (2008). Fundamentals of strategy. Harlow: Financial Times Prentice Hall

    Read More

  • The Importance Of Strategic Marketing

    1484 Words  | 3 Pages

    By definition, strategic marketing is a firm’s ability to concentrate a limited amount of resource on an opportunity that has deemed to have the highest potential to increase sales, thereby creating a sustainable competitive edge over rivals (Brooksbank & Taylor 2007). Fundamentally, each aspect of marketing has the potential to improve or affect the performance of other marketing facets. Hence, creating a proper coordination of a firm’s activities makes it possible to eliminate unnecessary activities that interfere with efficient profit maximization processes. Strategic marketing explores ways that each of the marketing processes will reinforce each other for the best output. More importantly, strategic marketing makes each department to work

    Read More

  • The Importance Of Strategy Implementation

    1243 Words  | 3 Pages

    One of the key drivers of effective strategy implementation is leadership, and specifically strategic leadership. At the same time, lack of leadership, and specifically strategic leadership by the top management of the organization, has been identified as one of the major barriers to effective strategy implementation (Beer and Eisenstat, 2000). A leader is defined as “someone who guides and inspires the learning process throughout the organization in order to create and motivate the thoughts and actions required to implement the key strategies of the organization based on the overall strategic mission and vision” (Gillen, 2000). In order to implement a strategy in a turbulent world, the implementation must be led and a major part of this leading involves inspiring

    Read More

  • Organizational Strategy and Structure of Unilever

    1433 Words  | 3 Pages

    A key part of an organizational strategy is to identify market opportunities by finding a niche or a gap in the marketplace that they can pursue to take their company ahead of all their competitors. An organiz...

    Read More

  • Airline Game: Report on the Simulation

    2976 Words  | 6 Pages

    Johnson, G., Scholes, K., Johnson, G. and Whittington, R. 2011. Exploring strategy. Harlow: Financial Times Prentice Hall.

    Read More

  • Coca Cola Competitive Advantage Essay

    910 Words  | 2 Pages

    We can define competitive advantage as simply what a given company excels best at. This could be the distinguishing factor as to why consumers purchase from your company and not the competition. This could also be understood from the perspective of quality that a business can create for the consumer.

    Read More

  • Dell's Competitive Strategy

    2470 Words  | 5 Pages

    Competitive strategy is the approach that an organisation takes in order to gain advantage over its competitors. According to Porter, there are two major sources of competitive advantages: costs and differentiation. Cost-based competitive advantage involves reducing production costs so that an organisation can earn higher profit margin or offer products at lower price compared to competitors. Differentiation-based competitive advantage involves offering unique properties that are not offered by competitors’ products. Differentiation allows an organisation to charge a premium for their products because they offer additional benefits to buyers.

    Read More

  • Strategy Implementation

    1269 Words  | 3 Pages

    This report provides an analysis and evaluation of strategy implementation used by California Pizza Kitchen (CPK) and discusses the effectiveness of their strategy through organization design, control systems, people and culture. My research concluded that CPK relies on control systems to undertake a majority of the company’s operational activities and that human resources and organizational culture must support the strategy implemented, which it does in in the case of CPK.

    Read More

More about The Importance Of Competitive Strategy

Open Document