CRAFTING+EXEC.STRAT.:CONCEPTS (LOOSE)
CRAFTING+EXEC.STRAT.:CONCEPTS (LOOSE)
22nd Edition
ISBN: 9781260157178
Author: Thompson
Publisher: MCG
Question
Book Icon
Chapter 1, Problem 1LO
Summary Introduction

To explain: A company’s strategy and the reason for it to vary from the competitor’s strategy.

Expert Solution & Answer
Check Mark

Explanation of Solution

A coordinated set of actions that are undertaken by the managers to outperform the competitor’s and achieve a greater profitability is known as the strategy of a company. The strategy of each and every company must have a distinctive element that draws the customers and provides them with a competitive edge.

Strategy mainly states the differences in competing that mainly describes what the rival firms does not possess and what the rival firm possess. This does not states that there must be a 100% variations but there must be a least difference in terms of important aspects.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
give brief peer-reviewed example of a single-supplier and multiple supplier sourcing strategy from within 2019-2024
Referencing the scenario provided, and following the guidance provided by theStrategic consultant, Joy and her team are now prepared to proceed with finalizing their businessplan to launch their company. Considering how competitive the business sector is today, it isimportant that they are aware of their alternative organizational strategies. It is also important thatthey understand how to develop a sustainable competitive advantage, so as to remain financiallyviable. The group is considering utilizing the strategy formulation framework to aid in developingthe company and its products. Further to discussion with the Strategic Consultant, Joy is awarethat there are certain habits that strategic leaders must encompass but is not sure what they are. your group is to assume the role ofJ oy  and her team. In doing so, you areexpected to complete the following: Given the  event planning and gifts for all occassions which your business proposes to offer, assess the threestages of the…
Relever les défis de la gestion des ressources humaines, 6e édition (Chapitre 7, page 256) Auteur(s) Sylvie St-Onge, Victor Haines, Sylvie Guerrero, Julie Dextras-Gauthier
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Text book image
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Text book image
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning