Financial Decision

Dess, G. G., Lumpkin, G. T., Eisner, A. B., & McNamara, G. (2012). Strategic management: Text and cases (6th ed.). NY: Mcgraw Hill-Irwin.

2.Competitive Advantage – It includes the best product of an Organization in the competitive market.

¿Use the strategic goals to develop a goal for each of the four aspects. Now, be creative, what should the critical success factors and measurements be?

Pearce, J. A. & Robinson, R. B. (2013). Strategic Management: Planning for Domestic and Global Competition (13th ed). New York, NY: McGraw Hill.

Chapter 6 – Strategy Formulation: Situation Analysis and Business StrategyChapter 7 – Strategy Formulation: Corporate StrategyChapter 8 – Strategy Formulation: Functional strategy and Strategic Choice

Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill. Retrieved August 20, 2011, fr

Carpenter, M. A., & Sanders, W. G. (2009). Strategic management: A dynamic perspective concepts and cases. (2nd ed.). Upper Saddle River, NJ: Pearson Education.

Hunger, J. D., & Wheelen, T. L. (2011). Essentials of strategic management (5th ed.). Upper Saddle River, NJ: Pearson Education.

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

A Competitive Advantage is a peculiarity for an organization between it's competitors . It's achieved either by lowering prices or by greatening the value of the product or by offering luxury service and benefits to cope with high prices .

A company that pursues and achieves strategic outcomes that boost its competitiveness and strength in the marketplace is in much better position to improve its future financial performance.

According to Slack et al. The corporate strategy or business strategy is the guide lines for the whole corporation’s businesses in relation to its markets, customers, and the competitors (2007). In the same context, the same authors discussed the link between the corporate strategy and

“The best strategy for a given firm is ultimately a unique construction reflecting its particular circumstances.”(Michael Porter). This assignment will focus on fabricating fundamental strategies suitable for a particular industry and a specific organization’s situations, and the different dynamics that managers face when implementing them. Mainly looking into two particular industries namely emerging industries which will be addressed in section a, and Turbulent, high-velocity Industries which will be addressed in section b of the assignment discussing extensively the appropriate strategies firm must adopt to achieve their corporate goals.