A review of business strategy and strategic rationale for competitive advantage, as discussed in "Strategy as Action: Competitive Dynamics and Competitive Advantage," by C. Grimm, K. Smith and H. Lee.
Written in 2008; 1,321 words; 2 sources; APA; $ 44.95
Paper Summary:
This paper discusses the book entitled "Strategy as Action: Competitive Dynamics and Competitive Advantage," written by C. Grimm, K. Smith and H. Lee. The paper first discusses the book in relation to general managerial economics as applied for competitive advantage. The paper then discusses the relationship between establishing a sound economic justification for business strategy and strategic rationale. It also provides various examples from the literature used to support these observations.
Table of Contents:
Abstract
Overview
Major Themes
Economic Integration
Conclusion
From the Paper:
"Such a mentality at the managerial and executive level within a given organization allows the company, no matter how large or hierarchical in nature, to respond more quickly and more effectively to both threats and opportunities in the marketplace. In such an environment, while there still exists many real and unforeseeable market threats, the market itself is reduced as close to the concept of perfect competition as it likely can be (Besanko, Dranove, Shanley & Schaefer, 2006, p.208). In this ideal type of market companies compete in a relatively level playing field of opportunity where there are sufficient consumers, a market price completely arrived at by market forces, and a market not controlled by any single competitor or supplier. By framing the global market in such a context, the authors of Strategy as Action: Competitive Dynamics and Competitive Advantage becomes a field manual for contemporary organizations in the global economy."
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