COMPETITIVE ADVANTAGE Creating and Sustaining Superior Peifonnance (original) (raw)

Competitive Strategy and Advantages

Journal of Accounting and Finance, 2024

Companies continue their operations under rapidly changing conditions and significant uncertainties in today's business environment. Faced with this ongoing change, businesses must constantly push themselves toward innovation and seek ways to cope with intense competition. Consequently, to sustain their existence, firms must anticipate environmental changes and strive for competitive advantage in a strong competitive environment. This situation appears to be contingent upon the ability to compete and achieve superiority. Today, achieving competitive advantage for businesses relies on making the right strategic choices. The strategy aims to control changes in a competitive economic environment by fostering innovation, progress, and alignment with the environment. Over the past 50 years, there has been increasing interest in strategy studies from a wide and diverse range of circles. Universities have opened numerous courses on strategy and related topics, with a growing number of academics and researchers conducting studies in this area. Managers and consultants are also increasingly inclined to adopt a more strategic perspective on managerial issues in the business world.

Strategy and Competitive Advantage

Winning business strategies are grounded in sustainable competitive advantage. A company has competitive advantage whenever it has an edge over rivals in securing customers and defending against competitive forces. There are many sources of competitive advantage: making the highest-quality product, providing superior customer service, achieving lower costs than rivals, having a more convenient geographic location, designing a product that performs better than competing brands, making a more reliable and longer-lasting product, and providing buyers more value for the money (a combination of good quality, good service, and acceptable price). To succeed in building a competitive advantage, a firm must try to provide what buyers will perceive as "superior value"-either a good product at a low price or a "better" product that is worth paying more for.

Some Aspects Regarding Competitive Companies

Fiabilitate şi Durabilitate, 2018

Paper presents some aspects regarding the strategy made by companies, the effort of the top management to be profitable. Beginning with some definitions, in the other hand it is presented from a synergetic point of view, a study case for company performance, in the way to be competitive, durable, with good clients, stakeholders. There are also presented ways to be adopted to open the excellence road.

Competitiveness of a Company: Dimensionality of Competitiveness

Tij S Research Journal of Social Science Management Rjssm, 2011

This article discusses ‗Competitiveness' as an organization goal from a proactive and ‗insideout' perspective in contrast to the prevalent reactive and ‗outside-in' perspective. Understanding the fundamentals of competitiveness and the determining factors of competitiveness are of prime importance for any company to be competitive. The critical success factors (CSFs) of competitiveness, suggested are: 1. Customers 2. Employees 3. Systems and Processes 4. Business Environment 5. Business Intelligence and Competitors 6. Technology. The winners in the market say that one has to go beyond customers as well as competitors. Management gurus say more than competitors and customers it is the fundamentals of competition and knowing the determining factors of competition that are of prime importance. This is inside-out orientation ie. understanding the critical success factors of competitiveness. The following diagram depicts various orientations of players in the market.

Basic Tools and Frameworks for Analyzing and Understanding Competitiveness Within the Industry

European Journal of Sustainable Development, 2014

The relationship between competition and challenges for sustainable growth in the country, industry or a firm is an argument and a basic element for the development of policies, strategies and adaptation to strategic changes. The purpose of this paper is to review the existing frameworks for analysing and understanding competitiveness and especially their application within an industry. In order that, this initiative to study and measure the attractiveness of the industry, to develop and find the proper implementation, it is necessary to build the field and infrastructure through which it will be possible to understand and measure indicators such as attractiveness, rivalry among firms, competitive position in the industry and the strategic choices. Based on this review, it is given the way in which each industry can be studied and, above all, to test the extent of application of the model and the theory of Porter in the Albanian business environment.

Firm Competitiveness

Advances in business strategy and competitive advantage book series, 2017

Competitiveness has been a topic of research in the manufacturing and related sectors since the early 1990s. While there is much agreement on the economic and social importance of competitiveness, it is less clear what exactly competitiveness is and what its most important determinants are. The focus of this paper is to review the literature at the firm level and evaluate and compare all the available competitiveness-related frameworks and models, to present the empirical evidence and to investigate the relevant competitiveness indices.

The Competitive Advantages Theoretical Aspects

2018

The Article analyses the concept of competitive advantages, creating competitive advantages, model competitive advantages. It is argued that competitive advantage is influenced by the factors such as infrastructure, the complexity of the business, labor and goods market efficiency, financial market complexity, innovation, technology, institutions of higher education and training, and macroeconomics. It is also believed that equally important for are both external as and internal factors These factors determine whether a company is able to defeat its rivals and lead the market. Competition has its theoretical models and competitive advantage in the development of strategies as part of the targeted helps companies gain a competitive advantage over the competition. It is important to regularly monitor and examine the target competitors' strategies to quickly respond to their actions in order to grasp how to overcome them and find themselves in the leadership position it so that to...

IN SEARCH OF COMPETITIVE ADVANTAGE: THE DIFFERENCES AND MUTUAL COMPLEMENTATION OF TWO APPROACHES

In search of competitive advantage: the differencies and mutual complementation of two approaches, 2020

Achieving advantage in competition is a task constantly faced by managers and an object of ongoing research. Being aware of the sources of advantage is crucial along the way of creating it. The paper presents a review of two main approaches existing in literature to the sources of competitive advantage: the structureconductperformance paradigm and the resource-based view, and discusses the differences between the two as well as their codependence. Focusing on the arguments for their mutual complementation, we integrate them in a frame that explains the factors leading to competitive advantage. The mediating role of strategy choice as well as strategy implementation within this frame is thereby justified. The frame thus constructed can be useful for management practitioners in that it outlines the factors they should focus their attention on when creating their companies' competitive advantage. It can additionally be used as a tool for diagnosing the potential of an organization to maintain competitive advantage and above-average performance.