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Developing Multiple Sources of Added Value for Customers

Because fierce competition erodes a firm’s competitive advantage, firms should continuously move fast and build new advantages to counteract the advantages of competitors. To survive and prosper in today’s fiercely competitive market environment, firms need effective functional strategies to continuously add value to their offerings and build multiple layers of added value in different areas […]

Role of Strategic Management in Achieving Sustainability

Strategic management has developed from corporate planning (1960) to shareholder value maximization (1980-2000) to stakeholder value maximization (2000-2023), which also incorporates the sustainability issues of society and the environment. Until the end of the 20th century, the scope of value creation and hence competitive advantage were narrowly defined in terms of profit. Today, companies are […]