Strategic Planning For A Competitive Advantage Essay

820 Words Nov 9th, 2016 4 Pages
A strategy is a set of goal-directed actions a company takes to gain and sustain a competitive advantage and increase their bottom line. In order for a company to sustain a competitive advantage, they must to have superior performance relative to their competition. To have a competitive advantage, means being known in the industry for providing superior products and service. A strategy is about combing activities. A strategy must be able to adapt to change. A strategy requires you to make tradeoff in competing and creating a unique and valuable position. Strategic positioning means performing different activities from rivals or performing them differently. Greater value allows for higher prices. A strategy that creates a unique differentiation and brand management can help a company maintain a competitive edge over their competition. Also high technology and innovative features will help maintain a competitive advantage. Strategic planning was meant not only for big companies but small ones too. The basic module is the SWOT analysis- Strength, Weaknesses, Opportunities and Threats. This analysis allows for further continuous improvements by improving operational efficiencies, using experience and revamping products. In addition to the SWOT analysis, networking marketing and regular product are two strategies that have been successfully used by Apple.

2. What are the five basics tasks of the strategy making executing processes? Why are all these tasks…

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