Achieve Profitable Organization Growth via 4 ways to attain Sustainable Competitive Advantage
Most companies are in business to survive, grow and thrive; in other to achieve sustainable profitable growth however, a company must develop sustainable competitive advantage. Attaining sustainable competitive advantage involves managing for strategic success. Managing for strategic success requires strategic thinking and making good strategic decisions - the means by which management's intentions and ideas are realized. Strategic thinking is informed by systems thinking which enables us to conceptualize the dynamics of an organization as a system, in terms of the coordinated interplay of strategic and operations management. Strategic management involves the systematic analysis, formulation, implementation, execution, and evaluation of specific strategies (decisions and action plans) designed to achieve sustainable competitive advantage and to achieve desired organizational goals.
A company can attain sustainable competitive advantage in a number of ways, such as:
All these approaches requires managing for strategic success. Strategic management is the decision-making process through which management intentions are realized. Strategic management is an ongoing and systematic process of analyzing internal/external environments factors, to determine opportunities and risks and creating specific strategies, through planning, organization, staffing, leading and controlling resources, designed to leverage organization's strengths and exploit opportunities while minimizing strategic risks to achieve desired organizational goals.
From systems thinking perspective, strategic management decisions and operational management decisions can be represented through two engines, namely: strategic engine and operational engine respectively. Both engines are necessary and their parallel and coordinated functioning is critical to organization success. The Strategic Engine abstraction is useful for managers seeking to understand, safeguard and enlarge their company's potential sources of competitive advantage. The Operations Engine abstraction is useful for managers seeking to understand how to efficiently manage the day-to-day activities of the organization across functional areas to achieve performance efficiency in creating value at reasonable costs.
A company can attain sustainable competitive advantage in a number of ways, such as:
- Acquiring and controlling valuable, rare, inimitable resources and capabilities that are not substitutable.
- Developing core competencies of the organization to absorb and apply those resources to develop its strategy to enhance its competitive position.
- Implementing and executing value creation strategy not simultaneously being implemented by any current or potential competitors.
- Controlling organizational change to better adapt/respond to changes in the environments.
All these approaches requires managing for strategic success. Strategic management is the decision-making process through which management intentions are realized. Strategic management is an ongoing and systematic process of analyzing internal/external environments factors, to determine opportunities and risks and creating specific strategies, through planning, organization, staffing, leading and controlling resources, designed to leverage organization's strengths and exploit opportunities while minimizing strategic risks to achieve desired organizational goals.
From systems thinking perspective, strategic management decisions and operational management decisions can be represented through two engines, namely: strategic engine and operational engine respectively. Both engines are necessary and their parallel and coordinated functioning is critical to organization success. The Strategic Engine abstraction is useful for managers seeking to understand, safeguard and enlarge their company's potential sources of competitive advantage. The Operations Engine abstraction is useful for managers seeking to understand how to efficiently manage the day-to-day activities of the organization across functional areas to achieve performance efficiency in creating value at reasonable costs.
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