The role of business strategy to create a competitive advantage in the organization

Abdulwase, Rasheed; Ahmed, Faroq; Nasr, Fuad Mohsen Mohammed; Abdulwase, Abdullah; Alyousofi, Asma; Yan, Shuangsheng

doi:10.15406/oajs.2020.04.00162

Cited by 20 publications

(18 citation statements)

References 18 publications

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“…The key word in strengthening and maintaining competitiveness in the competitive era is the strategy (Stephen P Kaufman; A Steven Walleck, 1980). This statement is reinforced by several research results which show that strategy is a tool that is considered effective in building competitive advantage (Abdulwase et al, 2021;Maryani & Chaniago, 2019;S et al, 2021). More specifically (Milano, 2021) states that one way to create a competitive advantage is to make your product's features or benefits superior to your competitors.…”

Section: Introductionmentioning

confidence: 90%

What is the Development Strategy for a Service-based Business?

Karyono

2022

Am. J. Econ. Bus. Innov.

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This study aims to map out how to develop strategies for service-based businesses to take advantage of opportunities and maximize the role of resources by anticipating weaknesses and threats. This research was conducted on a service-based business. The research method used is descriptive qualitative, with research subjects being business owners, employees, and some consumers in the laundry business in Watampone City. The analytical technique used in this research is SWOT analysis (Strength, Weakness, Opportunity, Treatment) as an alternative mapping strategy that will be implemented in future business development. From the results of research using swot analysis in the laundry business in Watamponen City, implementing a laundry business development strategy has excellent prospects and opportunities, so the strategy that is considered suitable is based on the research results using a Growth-oriented strategy.

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Section: Introductionmentioning

confidence: 90%

What is the Development Strategy for a Service-based Business?

Karyono

2022

Am. J. Econ. Bus. Innov.

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“…So for the growth motive, choosing a business unit with the best prospects can help avoid inefficient and can give a firm a unique resource (better strategy) CA. Altogether, a company can not only be defined by a combination of tangible assets and resources but through intangible resources such as strategies and processes (Abdulwase et al, 2020), which are an important source of CA. Based on the above findings (Bower, 2017;Arrfelt et al, 2015), the study proposes that gaining a CA through picking the winning business unit can be a way through efficient resource allocation.…”

Section: Mediating Role Of Competitive Advantagementioning

confidence: 99%

Calmness instead of panicking: re-thinking the resource allocation strategies in an era of uncertainty: a case of a developing country

Blouch

Khan²

2023

APJBA

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PurposeDrawing on the concept of superior resource, capability and processes of the resource-based theory of the firm, the purpose of the current study is to analyze the influence of firms’ winner-picking strategic approach on firm performance (FP) via a direct and indirect mechanism.Design/methodology/approachUsing survey data of 104 diversified manufacturing firms, the current study analyzed the conditional indirect effect of firms’ strategic approach on efficient resource allocation with the help of Statistical Analysis Software (SAS) process macros.FindingsThe study found that firms’ choices of winner-picking approach can undermine the resource allocation efficiency when not perfectly blended with firms’ access to the resource. Furthermore, the effect of winner-picking strategy (WPS) on resource allocation efficiency via firms’ competitive advantage (CA) can be greater when both strategic choice and resources are employed adequately.Research limitations/implicationsDespite making a unique contribution, the present study has a few limitations requiring researchers’ attention to be tackled in the forthcoming. This includes a little amount of data, a self-reporting technique and failure to include all the possible reasons that could lead to inefficient resource allocation.Practical implicationsThe present research has potential applications for managers of the manufacturing industry in a period of sheer uncertainty [coronavirus disease 2019 (COVID-19)]. First, the study alerts managers about the challenges of underinvestment and overinvestment while allocating resources. At the same time, this study provides an important implication for managing the importance of firms’ access to capital (AC).Originality/valueThe current study has made a sizeable impression in the literature on internal resource allocation and resource-based theory of the firm by recommending a model that augments the theoretical foundation of strategic management of the firms. As there are only a handful of studies on this grave issue in the context of developing economies, thus, closely considering these insights would be helping for the firms for allocating resources efficiently in the manufacturing industry.

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“…Just as it is the desire of every organization to maximize its profitability [84], the main driver of the same is a competitive advantage that follows a social mission. As long as a social organization or business enterprise has capable leadership with clearly outlined vision and mission statements [85], it is easier to attain their objectives [86]. That is why laying down competitive advantage strategies is vital in the organization [86,87,88].…”

Section: The Relationship Between Competitive Advantage and Social En...mentioning

confidence: 99%

“…As long as a social organization or business enterprise has capable leadership with clearly outlined vision and mission statements [85], it is easier to attain their objectives [86]. That is why laying down competitive advantage strategies is vital in the organization [86,87,88]. An indepth analysis in the paper has considered numerous entrepreneurial competencies that a social enterprise needs to put in place for fair competition and a good position in the business world.…”

Section: The Relationship Between Competitive Advantage and Social En...mentioning

confidence: 99%

Entrepreneurial Competencies, Competitive Advantage, and Social Enterprise Performance: A Literature Review

Iskandar¹,

Joeliaty²,

Kaltum³

et al. 2022

Proceedings of the International Conference on Economics, Management and Accounting (ICEMAC 2021)

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This article looks at a competitive advantage and how it aids a social enterprise's performance. A social enterprise refers to a business determined to bring positive changes in the world when they put their profits into use appropriately. This article focused on the resource-based view (RBV), a concept that bases its argument on a business entity's resources. Numerous entrepreneurial competencies include recognition, relationship, organizing, and strategic competencies. All these have positive effects on social enterprise performance. Different types and sources of competitive advantage positively impact social enterprise performance. The types of competitive advantage include cost leadership, differentiation, and focus strategy. The numerous sources of competitive advantage entail human capital, bundle pricing, product attribute differentiation, price discrimination, customer's willingness to pay, organizational structure, and Technology. The performance of the social enterprise relies on the critical component of social entrepreneurship like a social mission that is put above financial goals, innovativeness, and a self-sustaining business model.

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The role of business strategy to create a competitive advantage in the organization

Cited by 20 publications

References 18 publications

What is the Development Strategy for a Service-based Business?

What is the Development Strategy for a Service-based Business?

Calmness instead of panicking: re-thinking the resource allocation strategies in an era of uncertainty: a case of a developing country

Entrepreneurial Competencies, Competitive Advantage, and Social Enterprise Performance: A Literature Review

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