Strategic Business Concepts
Outline and discuss the concepts of strategic capabilities, core competencies and strategic competitive advantage and how they relate. In your discussion, consider how CEOs utilise these concepts in the strategic management process to build and sustain a firm’s competitive position.
1. Undertake wide-ranging reading to ensure that you have a proper grasp of what “strategic capabilities”, “core competencies” and “strategic competitive advantage” mean, their definitions, differences and relationships between these concepts.
2. Ensure that your reading enables you to address the issue of where these concepts fit within the strategic management process.
3. Evaluate the literature and the research to identify a model (or models) that may help to assess and evaluate the linkages and relationships between these concepts.
4. Make sure that your reading equips you to be aware of how Chief Executive Officers (CEOs) might utilise these concepts to strategically build and sustain competitive advantage.
5. Identify and evaluate a real world example or case study of a CEO, who has successfully developed and utilised these concepts to achieve competitive advantage.