Describe how competitive advantage impacts and influences an organization or strategic group when referring to strategic management.
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COMPETITIVE ADVANTAGE AND ORGANIZATION'S STRATEGIC MANAGEMENT
According to Johnson et al. (2005), strategic management includes understanding the strategic position of an organization, its strategic choices for the future, and turning strategy into action. Johnson further noted that understanding the strategic position of an organization includes identifying the impact of the external environment on strategy, the capability or competencies of the organization and the influence and expectations of the stakeholders.
The above statements show that the strategic position which is among the important elements of strategic management of an organization is largely determined by an organization's capabilities and competencies and consequently, determines its competitive advantage. The company's strengths ...
A competitive advantage impact and influences on an organization or strategic group when referring to strategic management is examined.