Competitive Advantage

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Competitive Advantage https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 2 Competitive advantage - Further reading 1 Competitive Advantage: Creating and Sustaining Superior Performance by Michael E. Porter https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 3 Competitive advantage - Further reading 1 Creating Competitive Advantage: Give Customers a Reason to Choose You Over Your Competitors by Jaynie L. Smith https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 4 Strategic management - Competitive advantage 1 It shows how a firm can use these forces to obtain a sustainable competitive advantage https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 5 Strategic management - Competitive advantage 1 Borrowing from Hamel and Porter, Kay claimed that the role of strategic management is to identify core competencies, and then assemble assets that will increase value added and provide a competitive advantage https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 6 Strategic management - Competitive advantage 1 In 1992 Jay Barney saw strategy as assembling the optimum mix of resources, including human, technology and suppliers, and then configuring them in unique and sustainable ways.Barney, J. (1991) Firm Resources and Sustainable Competitive Advantage, Journal of Management, vol 17, no 1, 1991. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 7 Strategic management - Competitive advantage 1 Their underlying assumption was that there is no better source of competitive advantage than a continuous stream of delighted customers. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 8 Strategic management - Competitive advantage 1 Because of the broad applicability of process management techniques, they can be used as a basis for competitive advantage. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 9 Strategic management - Competitive advantage 1 They showed how a competitive advantage could be found in ensuring that customers returned again and again https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 10 Strategic management - Competitive advantage 1 James Gilmore and Joseph Pine found competitive advantage in mass customization.Pine, J https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 11 Strategic management - Competitive advantage 1 *Will the proposed competitive advantage create Perceived Differential Value? https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 12 Demand chain management - Competitive advantages 1 To create sustainable competitive advantages with DDSN, companies have to do deal with three conditions: Alignment (create shared incentives), Agility (respond quickly to short-term change) and Adaptability (adjust design of the supply chain).Lee, H, 2004. The Triple A Supply Chain. Harvard Business Review 82; 10 102-112 https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 13 Strategic information system - Gaining competitive advantage 1 Some of the more common ways of thinking about gaining competitive advantage are: https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 14 Strategic information system - Gaining competitive advantage 1 It helps to talk about the possibilities of great breakthroughs, if it is always kept in mind that there are many strategic systems developed and installed that are successful enough to be highly praised within the organization and offer a competitive advantage, but will not be written up in the Harvard Business Review. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 15 Strategic information system - Porters competitive advantage 1 Porters theories on competitive advantage are not tied to information systems, but are used by others to involve information services technologies._In his book, Dr https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 16 Strategic information system - Porters competitive advantage 1 The basic notion is that to understand competitive advantage in any firm, one cannot look at the firm as a whole https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 17 Strategic information system - Porters competitive advantage 1 Cost leadership is one of Porters two types of competitive advantage https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 18 Resource-based view - What constitutes competitive advantage? 1 A competing firm can enter the market with a resource that has the ability to invalidate the prior firm's competitive advantage, which results in reduced (read: normal) Economic rent|rents (Barney, 1986b, p658). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 19 Resource-based view - What constitutes competitive advantage? 1 Sustainability in the context of a sustainable competitive advantage is independent with regard to the time frame. Rather, a competitive advantage is sustainable when the efforts by competitors to render the competitive advantage redundant have ceased (: p102; Rumelt, 1984, p562). When the imitative actions have come to an end without disrupting the firms competitive advantage, the firms strategy can be called sustainable. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 20 Resource-based view - What constitutes competitive advantage? 1 This is in contrast to views of others (e.g., Porter) that a competitive advantage is sustained when it provides above-average returns in the long run. (1985). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 21 Resource-based view - What constitutes competitive advantage? 1 'Why is competitive survival more important than striving for competitive advantage?' https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 22 Resource-based view - What constitutes competitive advantage? 1 The main difference between the resource-based view of the firm and dynamic capabilities view is the fact that the latter focuses more on the issue of competitive survival rather than achievement of sustainable competitive advantage https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 23 Servicizing - Strategic competitive advantage 1 In a climate of increasing global competition, reduced power of industrialised countries, concerns over resilience of local economies and society in general, instability of financial markets, increasing depletion of resources, shifting environmental burdens among countries, inequality in access to resources and growing environmental impacts, servicizing solutions hold promise to create 'Competitive advantage|strategic competitive advantage' by: https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 24 Competitive advantage 1 New technologies such as robotics and information technology can provide competitive advantage, whether as a part of the product itself, as an advantage to the making of the product, or as a competitive aid in the business process (for example, better identification and understanding of customers). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 25 Competitive advantage 1 Competitive advantage attempts to correct for this issue by stressing maximizing scale economies in goods and services that garner premium prices (Stutz and Warf 2009). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 26 Competitive advantage 1 Superior performance outcomes and superiority in production resources reflects competitive advantage (Day and Wesley 1988 cited by Lau 2002, p.125). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 27 Competitive advantage 1 Superior performance being the ultimate desired goal of a firm, competitive advantage becomes the foundation highlighting the significant importance to develop same.' https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 28 Corporate strategy - Competitive advantage 1 In 1980, Porter defined the two types of competitive advantage an organization can achieve relative to its rivals: lower cost or Product differentiation|differentiation. This advantage derives from attribute(s) that allow an organization to outperform its competition, such as superior market position, skills, or resources. In Porter's view, strategic management should be concerned with building and sustaining competitive advantage. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 29 Sustainable competitive advantage 1 New technologies such as robotics and information technology can provide competitive advantage, whether as a part of the product itself, as an advantage to the making of the product, or as a competitive aid in the business process (for example, better identification and understanding of customers). https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 30 Sustainable competitive advantage - Overview 1 Michael Porter defined the two types of competitive advantage an organization can achieve relative to its rivals: lower cost or Product differentiation|differentiation. This advantage derives from attribute(s) that allow an organization to outperform its competition, such as superior market position, skills, or resources. In Porter's view, strategic management should be concerned with building and sustaining competitive advantage. https://store.theartofservice.com/the-competitive-advantage-toolkit.html Slide 31 Sustainable competitive advantage - Overview 1 Competitive advantage attempts to correct for this issue by stressing maximizing sca