Academic Paper: Strategic Management
In any market today, it is inevitable for any business to face stiff competition from its rivals. Having an advantage over a business rival is essential. However, it is not usually a guarantee that it can be sustained. Thus, one needs to stay informed on the changes happening in the business world every day. Neglect of the changing climate of the markets creates a monumental risk for the company.
Thus, businessmen are required to have working strategies for their companies at all times. Competitive advantage presents these set of methods and strategies needed to make a business stand put in the market. This essay will describe the competitive advantage strategic management concept and present a plan of mentoring, training, following, implementing etc this action.
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