Conduct a stakeholder impact analysis

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Reference no: EM132986603

What is strategic - unifying theme that gives coherence and direction to the actions and decisions (guides the organization to its goals)

Explain the role of strategy in a firm's quest for competitive advantage.

Define competitive advantage, sustainable competitive advantage, competitive disadvantage, and competitive parity.

Differentiate the roles of firm effects and industry effects in determining firm performance.

Evaluate the relationship between stakeholder strategy and sustainable competitive advantage.

Conduct a stakeholder impact analysis.

Strategic management is a combination of analysis, formulation and implementation looking for competitive advantage. Strategy refers to an action oriented to a specific goal (i.e. financial and human capita, profitable growth). A strategy is consolidated by an analysis, a formulation and an implementation.

Competitive advantage is a firm or company that accomplishes a higher performance compare with its competitors in the same industry. Sustainable competitive advantage refers to a firm with better performance than its competitors in a prolonged period. Competitive disadvantage - lower performance compared to the industry average. Competitive parity means an equal performance between 2 or more firms.

Strategic positioning - create value to customers. It requires a tradeoff - opportunity cost (win and loss)

What Strategic is not - statement of desire, a failure to face competitive advantage. Operational higher performance, competitive benchmarking and other tactical tools are not enough.

Industry and firm effects drive the performance of the company. Industry effects refers to the elements that influence in common industries, around 20% of the profitability of the company depends on the industry effects. Firm performance is driving by managerial actions (internal) a firm's strategy can explain up to 55% of the performance.

Reference no: EM132986603

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