Explain the concept of competitive advantage and why organizational culture is important in achieving it.
What will be an ideal response?
Competitive advantage is related to a firm’s resources and the value of those resources. Competitive advantage can be created if a firm’s resources are valuable by allowing it to improve its efficiency and effectiveness if they are rare and not easily imitated by other firms and if they are non-substitutable or not easily replaced by some other non-rare resource. It is the job of the strategic leader to identify, nurture and protect these resources. Two ways in which the leader does this the establishment or redirection of a mission and a shared vision, and by implementing mission, vision, and strategy. These are key aspects of organizational culture. Therefore, as it is a primary responsibility of a strategic leader to formulate and maintain organizational culture, if that leader is successful at those tasks, he or she will also have worked to achieve competitive advantage for a firm.
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Why is the indirect format usually a better choice when sending negative employment messages?
A) Recipients tend to have an emotional stake in the message. B) There is less control over the message in other formats. C) Indirect formatted messages regarding employment are more sensitive than face to face conversations. D) Indirect formatted messages regarding employment are quicker to write. E) A direct format can be taken as a personal slight and a threat to the applicants future.
In estimating the amount of uncollectible accounts the accountant (1) estimates the amount of outstanding accounts receivable that the firm does not expect to collect and (2) adjusts the balance in the Allowance for Uncollectible Accounts so that, after the entry to recognize estimated uncollectibles, the balance in the account will equal the amount that the firm does not expect to collect. The
name of this procedure is/are: a. the percentage-of-sales. b. aging-of-accounts-receivable. c. direct write-off. d. tax accounting. e. indirect write-off.
Some business schools take the approach that the primary customers for their business are ________.
A. professional health care service providers B. professors and lecturers C. companies that hire their students D. parents and relatives of students E. graduate schools
The Japanese experience showed that one of the biggest costs of poor quality is lost customers.
Answer the following statement true (T) or false (F)