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Using a range of company examples from global retailing, critically review the extent to which you think competitive advantage is due to the possession of unique resources - Essay Example

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Competitive advantage provides organizations necessary source to distinguish themselves from others and based on this advantage, they dominate their respective industries. There can be different sources of competitive advantage and organizations use them to achieve a distinctive…
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Using a range of company examples from global retailing, critically review the extent to which you think competitive advantage is due to the possession of unique resources
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Extract of sample "Using a range of company examples from global retailing, critically review the extent to which you think competitive advantage is due to the possession of unique resources"

Download file to see previous pages Gaining competitive advantage by using the resources of the firm can include access to natural as well as other resources which can help organizations to stay ahead of the competition.
This paper will discuss about four firms from retail industries and will discuss as to whether the competitive advantage possessed by each of the firm is based upon the unique resources possessed by them. By using different strategic frameworks and theories, this paper will focus upon how firms like Tesco, Carrefour, Wal-Mart and Aeon use their unique resources to gain competitive advantage and remain at the top of their industry. Frameworks and theories which will be used for analyzing the above thesis will range from Porter’s five forces model, Value Chain analysis, VRIO as well as Core Competences. By using these frameworks, this paper will analyze and explore as to how leading firms in retail industry has been able to use their unique resources to remain at the top of industry in which they are operating.
Competitive Advantage is considered as the strategic advantage firms have over their competitors in the industry they operate. Achievement of a competitive advantage actually strengthens the position of a firm in the industry and business environment they operate. Competitive advantage theory suggests that businesses should produce and sell high end products and sell them at higher prices in the market. Michael Porter who outlined this theory suggested that organizations need to possess attributes or group of attributes which can actually distinguish them from others in the market. Competitive advantage is based upon the notion of resource based view which outlines that organizations can have certain resources which can actually distinguish from others in the industry. (Stalk, 1992)
The resource based view suggests that firms possessing competitive advantage are primarily based upon the application of resources which are at the disposal of the firms. This ...Download file to see next pagesRead More
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