... its competitors. In order to achieve this an organisation must effectively differentiate itself from its competitors. This would suggest that the aim of any strategy is to gain the competitive edge over the organisation's rivals. Competitive advantage is therefore central to strategic management, in that, it produces sustained superior performance. To be competitive in a business environment, often requires the organisation to ... . An organisation's ability to innovate could mean inventing new products or services, or improving existing ones. Thus strategies that encourage innovation ca...

• Word Count: 1589
• Approx Pages: 6
• Has Bibliography
• Grade Level: Graduate

In today's global economy competition is very stiff. In order for companies to maintain their competitive edge it is necessary for the organization to develop a strategic plan which enhances its core competencies and allows it to satisfy its customers" needs with quality products and/or services that ... ...

• Word Count: 1687
• Approx Pages: 7
• Grade Level: Graduate