Defining goal of strategic management consists of gaining

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Question

The defining goal of strategic management consists of gaining and maintaining competitive advantage. This is because competitive advantage leads to superior value, and superior firm performance. To explain differences in firm performance, we must understand how to measure and assess competitive advantage. Unfortunately, the term "competitive advantage" is difficult to measure. However, you may recall that strategists use a multidimensional perspective when measuring competitive advantage. Label and describe the three standard dimensions used when measuring a firm's competitive advantage. Please also discuss the limitations of each of these three standards. Finally, discuss the implications for strategic leaders emerging from your discussion of the measurement and assessment of competitive advantage.

Reference no: EM133632180

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