Common themes- business strategy
A business strategy is whereby a company has a robust plan regarding how they will gain and sustain competitive advantage in the market place (Dyer, Godfrey, Jensen & Bryce, n.d.). This plan largely depends on the leaders abilities to plan on how their companies can be successful in a certain market. What is more, a business strategy, to a large extent, has theories that require a company’s leadership to know how they can offer a unique value to their clients in markets where there is a high competition. On the other hand, reading 2’s business strategy is different from the mission, vision, goals, objectives, and tactics (Horwath, n.d.). Reading one primarily suggests that a business strategy involves a company’s ability to monitor its internal and external processes in order to provide superior value to their customers. Another definition of the term business strategy is that the concept involves doing things differently with one’s rivals in order to offer unique values to the customers (Porter, 1996).
Viewpoints on sustainable competitive advantage
According to Dyer, Godfrey, Jensen & Bryce, n.d., a sustainable competitive advantage is when a company offers a unique value that enables it to outperform other competitors in a similar market. Similarly, according to Howarth, n.d., competitive advantage is when a company has unique something to offer, which makes it stand out among its competitors. On the other hand, Porter (1996) sustainable competitive advantage as having something unique that a company’s rivals cannot be able to copy in any market position.
Example of a company that has a sustainable competitive advantage
Apple is a company that has dominated the world of electronics for years even with its high pricing. Apple has been successful due to its generic strategy that entails embracing high rate of innovation and emphasizing on the need to create excellent designs. This strategy offers Apple a great competitive advantage over other companies, such as Samsung, LG, and Blackberry (Bajarin, 2014).
Bajarin, T. (2014). Understanding Apple’s ‘Continuity’ strategy. Time.