Strategy and Competitive Advantage
David Kryscinski. Introduction to Strategic Management. 2015. Retrieved from
https://www.youtube.com/watch?v=TD7WSLeQtVw
I learnt that a corporate strategy must have a purpose and direction. This must therefore involve the tactics of the developed strategy, goals, objectives as well as the general description (Kryscinski, 3:00). The main goal of a strategy must always be aimed at winning through achieving the stated objectives. A strategy must hold the capability of outweighing the challenging to be effective.
A G, Lafley. Defines Effective Business Strategy. 2013. Retrieved from
https://www.youtube.com/watch?v=FlurK3LeTpg
Effective are the choices that are developed in the market to win with the specific consumer groups. Business strategies should therefore be clearly stated. An effective strategy should be directed to the ma market place by defining how to grow the market segment and how the expectations of the consumers can be achieved (Lafley, 2:05). A successful strategy must therefore be capable of increasing the market segment.
Berg, Robynne.7 Steps to Successful Strategy and Implementation. 2011. Retrieved from
https://www.youtube.com/watch?v=LkesApAMSQk
The first step of developing an effective strategy is examination the organization performance. Examine the risks that may be involved. Next the opportunities ad trends in the market should be analyzed (Robynne, 2:45). Vision creation and direction is crucial in setting goals and reducing confusion. Formulation is the most important step in strategy development and implementation.
Ram Charan. Strategy Execution Expert. 2010. Retrieved from
https://www.youtube.com/watch?v=RTlScWuurvs
Any strategy must be evaluated in order to assess the associated benefits towards the business. The goal of the strategy must be well established in order to achieve any aim. This helps in developing expectations that must be met for the strategy to be successful (Charan, 1:05). Develop ideas, select the best ideas and then execute based on the opportunities related to each idea.
Quadric, Tube. Building Strategic Differentiation. 2012. Retrieved from
https://www.youtube.com/watch?v=o1xUaL6iYSc
Differentiation is associated in branding effectiveness. Differentiation must be strategically developed as the benefits of each differentiation are different. Differentiation must be based on customer relation development and management as well as quality improvement. Strategic differentiation is crucial in driving the market sales and performance trucking (Quadric, 6:07).
Virtual-strategist. How to Develop Competitive Advantage. 2008. Retrieved from
https://www.youtube.com/watch?v=S9O2oPbT3fs
Competitive advantage is the strategy that answers the questions related on the capabilities of the corporation. Competitive advantage is made up of the corporations capabilities and why the hold the capabilities over the others (Virtual-strategist, 5:09). Competitive advantage can therefore be achieved by utilizing the strengths of the corporation in gaining greater opportunities ad trends.
Rita, McGrath. The End of Competitive Advantage. 2013. Retrieved from
https://www.youtube.com/watch?v=4iK0P6tb4Qs
If a competitive advantage cannot be sustained this therefore implies that it is the end of opportunities and market trends (McGrath, 1:06). Therefore in order for a competitive advantage to be effective it must be sustainable by utilizing the capabilities of the organization.
Jonas, Fasth. Mintzberg on Strategy. 2016. Retrieved from
https://www.youtube.com/watch?v=_vpvU5fIyOA
Managing is a practice that does not change because it is the managing content that is changed. Most strategies emerge during the experience of solving managing issues and they are not basically successful because they are planned (Fasth, 2:16).
Stefano, Messori. Strategy Formation Process: Deliberate or Emergent? 2016. Retrieved from https://www.youtube.com/watch?v=wKFIhVMnsss
Strategic formation is emergent. This is because it is the capability of the corporation management to be able to establish opportunities as well as market trends which would help in gaining a competitive advantage. Strategic formation is mainly based on control and not mainly on planning (Messori, 4:08).
