Business and Strategic Management: Concepts and Models for Competitive Advantage

Business and strategic management

Business and strategic management
Abstract
It has been examined that there are different concepts related to strategic capabilities,
core competencies and strategic competitive advantage. The main purpose of this paper is to
examine the different concepts and in this paper, the in-depth analysis is made on the different
concepts. In the first phase of the essay, the concepts such as Strategic capabilities, core
competencies and strategic competitive advantage are elaborated. In the next phase, the
discussion is on the strategic management process in context to these concepts and in the next,
Models are used which will help to outline these concepts. In the last phase, the role of the CEO
and an example of Jeff Bezos is given. Therefore, by analyzing all these factors it is said that it is
important for the management to emphasize on these factors so that it could be easy for the
company to maintain a competitive advantage in the market.
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Business and strategic management
Strategic capabilities, core competencies and strategic competitive advantage
In this paper, the discussion will be made on the concept of strategic capabilities, core
competencies and strategic competitive advantage. It has been analyzed that these concepts are
necessary to be considered by the management as it provides directions to be considered by the
management. Also, it can be said that the CEO of the company should consider the concepts as it
assists in attaining the competitive advantage in the highly competitive market. Therefore, the
paper will highlight the different concepts of strategic management in reference to the role of the
CEO in attaining the competitive advantage.
Strategic capabilities
This concept can be defined as the capability of the members of the company which helps
them to deploy and form the strategies. The strategies which are pursuit by the management
assist in attaining the sustainable advantage. Strategic capability is related to the ability of the
business that assists to consider the competitive strategies which allow them to survive and to
enhance the value over time (Grant, 2016).
The strategic capabilities do not emphasize on the strategies of the business users, but it
emphasizes more on the organization assets, resources and market position. The difference
between strategic capabilities and core competencies can be related to actions that impact the
long term growth and development. In strategic capabilities, the emphasis is given on creating
internal structure and process that enable the business to adapt the customer needs and strategic
needs. The core competencies emphasize on the resources and the skills required by the company
(Bayraktar, Hancerliogullari, Cetinguc &Calisir, 2017).
Core competencies
It is defined as the combination of the resources and skills that helps the company to
compete in the marketplace. It is important to focus on the exceptional skills, strategies,
technologies so that activities can be managed effectively between managers and employees. It
is also one of the best known strategic concepts which assist the firm to compete in the high level
of the competitive market. There are different core competencies that should be maintained by
the company so that it could be easy to attain a positive outcome. The core competencies can be
related to analytical thinking, computer competency, creative thinking, conceptual thinking and
forward thinking. These competencies are the resources and also the strategic advantage of the
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