Main avenues to competitive advantage, besides superior strategy
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When it is difficult or impossible to out-strategize rivals (beat them with a superior strategy), what is the other main avenue to competitive advantage?
- Do a better job of empowering employees
- Outcompete them with superior internal operating systems and wiser policies and procedures
- Beat them by developing the ability to perform certain strategy-critical value chain activities in superior fashion
- Out-execute them with a more dynamic and modern corporate culture driven by cutting-edge use of e-commerce practices
- Institute a more motivating and cost-efficient compensation and reward system
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Solution Summary
This response describes the steps a company should take to ensure competitive advantage when it is impossible to out-strategize rivals.
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