We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Literature review on competitive advantage - Essay Example

Comments (0) Cite this document
Summary
Literature Review of Competitive Advantage 1. Introduction The technological trends have changed the mode of life on the planet. Conventional business processes and operations have been replaced with newer forms of strategic planning that have become essential for organizations to meet the challenges of the changing times…
Download full paper
GRAB THE BEST PAPER
Literature review on competitive advantage
Read TextPreview

Extract of sample
Literature review on competitive advantage

Download file to see previous pages... The concept of competitive advantage has evolved over the past few decades and has now become an integral part of strategic management of any organization. Much research has been conducted on the attainment of competitive advantage and effective ways to sustain it. This literature review aims to explain the concept of competitive advantage in the light of different authors, along with their proposals of effective strategies to sustain it. Few examples have been chosen from the available literature to highlight the practical implementation of the concepts of competitive advantage. 2. Literature Review The concept of competitive advantage was introduced in the study of strategic management by Ansoff (1965). His ideas and propositions are known to form the basis of vital aspects of the development of growth strategy of any organization. Lowy and Hood (2004) quoted Ansoff (1965) and stated that his extensive experience and research in the field of diversification planning, highlighted relevant aspects and issues that should be considered for an effective growth strategy. Hindle (2008) also discussed the contributions of Ansoff and stated that some of the valuable contributions of Ansoff’s work in the field of strategic management are related to the attainment of competitive advantage and core competencies. Priemand and Butler (2001) pointed out that Ansoff’s work seemed to stress on the relevance of industry-based factors (threats and opportunities) more than the resource-based ones (weaknesses and strengths). Dix and Mathews (2002) provided a basis of strategy formulation and explained the attainment of competitive advantage; he stated that the development of strategic decisions involve the analysis of the core competencies and resources of the company. Prahalad and Hamel (2003) also considered the identification of core competencies as an important aspect of competitive advantage. The core competencies, that are unique and distinguishing from the competitors, can serve to become the competitive advantage if they are availed in the presence of good opportunities in the market. The concept of competitive advantage was further researched upon by Porter (1998). Porter explained the formulation of a competitive strategy as the broad plan of how businesses should compete in the market (in the presence of various environmental factors) to meet their goals. It also involves the policies according to which goals and objectives of the organization can be met. Porter also stated that competitive advantage can be explained as the combination of having low expenses, differentiation value for the company and a strategy that enables the company to focus on their main objectives. Porter (1998) accumulated all the aspects that might be related to the attainment of competitive advantage onto a single page. He described it as the ‘Wheel of Competitive Strategy’. The underlying bases of the strategy are the basic goals that are aspired to be achieved by the company and the vision which is set as the main direction of the company. Various aspects on the rim of the wheel, like marketing, product line, finance and control etc have to be considered to attain competitive advantage in the market, while being influenced by the main vision of the company. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Literature review on competitive advantage Essay”, n.d.)
Retrieved de https://studentshare.org/macro-microeconomics/1425783-literature-review-on-competitive-advantage
(Literature Review on Competitive Advantage Essay)
https://studentshare.org/macro-microeconomics/1425783-literature-review-on-competitive-advantage.
“Literature Review on Competitive Advantage Essay”, n.d. https://studentshare.org/macro-microeconomics/1425783-literature-review-on-competitive-advantage.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Managing Value for Competitive Advantage Company Analysis
The business environment has undergone tremendous transformation over the last few years. There has been a fundamental shift from just concentrating on economic profitability to a business mode. The key to competitive advantage is through value creation and addition to the offerings to the stakeholders.
12 Pages(3000 words)Essay
Globalization: Analysis of Competitive Advantage
In the present day and age, it is even more difficult to find sources of sustainable competitive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities.
22 Pages(5500 words)Essay
Relevance of Core Competency for the Attainment of Competitive Advantage
The expansion of businesses has given customers greater choice of products and services, instead of just relying on their local organizations to fulfill their needs. This creates greater competition for the companies in the market and makes them strive harder to attain their market share and success.
6 Pages(1500 words)Essay
Competitive Advantage
It is the economic rent that makes most competitors imitates other companies competitive advantage thus it becomes impossible for any given company to sustain its competitive advantages a longer duration of time. However, a company can have some positions, strategies and processes that are hard to be copied by other companies.
8 Pages(2000 words)Case Study
Performance management is key to achieving sustained competitive advantage
One such factor contributing to the competitive advantage to an organization is the Human resource. And the companies tries to retain this source by adopting performance appraisal systems, however may be the rate of success that leads to many assumptions and chances of doubt on the Performance Management system.
8 Pages(2000 words)Essay
Competitive advantage
In so doing the organization tries to look into the costs it incurs in the whole production process and the amount of control it has over each and every process. When considering vertical integration strategy, for example, an organization looks into managing its supply chain from both the supplier’s and the client’s sides.
6 Pages(3000 words)Essay
Competitive advantage
This ensures that the most productive people are brought to the front and appreciated accordingly. In most other workplaces, all people earn equal salaries whether they work equally or not. On the downside, the worker’s pays are not
2 Pages(500 words)Essay
DQ1 e-activity and DQ2 Competitive Advantage
43). On the other hand, Porter (2008b) noted, that industries characterized by suppliers possession of bargaining powers were less attractive (p. 13). Conversely, the bargaining power
2 Pages(500 words)Essay
Competitive Advantage
Competitor encounters are normal, and Tim’s Coffee Shoppe knows this better. This coffee shop competes with numerous others, but the common denominator is that there is a market
4 Pages(1000 words)Research Paper
Competitive Advantage
The firm has the ability to raise capital through the sale of stocks and bonds. The company also has a superior marketing and advertising budget which has enabled Barnes & Noble the ability to build
1 Pages(250 words)Assignment
Let us find you another Essay on topic Literature review on competitive advantage for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us