The Concepts Of Strategic Management Essay

2117 Words9 Pages
GSBS 6060 – Strategic Management

Individual Research Paper

Topic: “Outline and discuss the concepts of strategic capabilities, core competencies and strategic competitive advantage and how they relate. In your discussion, consider how CEOs utilise these concepts in the strategic management process to build and sustain a firm 's competitive position”

Scott Dean - 3034331

Strategic management is a fundamental part of any organisation and describes the framework used to understand the operating environment, the resources and capabilities available and how to leverage these toward a sustained strategic competitive advantage. This paper examines the various components of strategic management and contrast the relationships between each parameter. In order to understand this in practical terms, the role of the senior leaders and specifically CEO within the organisation is discussed and finally the strategic management of Apple is also critically assessed to understand the role of strategy in the overall success of the organisation and the criticality of monitoring and updating strategy based on operating conditions. Strategic management addresses how various environmental and internal factors impact the ability of an organisation to outperform its competitors over time (Bruton, Lohrke, & Lu, 2004). Research into strategic management highlights the crucial importance of no only developing and implementing a comprehensive strategy but also revising
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