Strategic Management For Competitive Advantage

1132 WordsApr 7, 20175 Pages
Strategic Management for Competitive Advantage Framework The article mainly talks about strategic management employed by organizations to meet their strategic objectives and hence achieve organizational mission. This will enable the firm to establish a competitive advantage (Gluck, Kaufman, & Walleck, 1980). A competitive advantage is when a company can provide better services or offer equally better products than other organizations. The input of the customer and the competitive landscape must be taken into consideration to sustain a competitive advantage, (Freeman, 2010). Other factors that contribute to these are the emerging technologies and the government regulations. According to the economic system is becoming more complex and…show more content…
They can either include the challenges or even the positive milestones made in the process of strategizing. These are all the major issues that article seeks to analyze. Evidence To address the specific issues mentioned the article systematically examined the relationship that exists between the strategic performance of different companies and how they formally conduct their planning (Gluck, Kaufman, & Walleck, 1980). The other pertinent information that was sought was the common pattern that characterizes the establishment of planning systems within a period and the evolution of companies under strategic decision making and formal planning. The information based on the findings indicate that most organizations have the same line of evolution of formal strategic planning but it progresses at different rates. It is varying rate of progress that breeds four sequential phases that advance as one precedes the other. According to (Spee & Jarzabkowski, 2011), this implies that each phase has clear formulated issues and alternatives, a probability of participating in strategic decision processes and the readiness of relevant parties. According to (Gluck, Kaufman, & Walleck, 1980) there are four pertinent phases that guides strategic management, or that can be used to address the issues. The first pertinent phase is the basic financial planning. The article maintains that ensuring an effective strategy management
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