Sustainable Competitive Advantage
Sustainable Competitive Advantage
The purpose of this essay is to discuss the meaning of sustainable competitive advantage with examples from hospitality industry.
Kotelnikov (2001) states that “sustainable competitive advantage is the focal point of the corporate strategy. It allows the maintenance and improvement of the enterprise 's competitive position in the market.” “Sustainability in the hospitality industry seeks to provide some answers to questions, attempts to resolve challenges and give guidance. Finally, it provides a new intellectual framework designed to stimulate discussion on conducting business which future generations can benefit from.” (Sloan et al. 2006, p7)
Nowadays, sustainable competitive advantages are required for a company to thrive in this global environment. Ajaero (2013) companies that became market leaders by exploiting the various avenues of competitive advantage available such as strong research and innovation, low pricing, and brand popularity, etc. Yet, these avenues are making by the strategy management of the company.
Different strategy management may build different unique image to the company in the market. For example, low pricing (Faulkenberry, 2006) done consistently can build brand loyalty be a huge competitive advantage such as Wal-Mart is the most capitalized company in the world built by its low pricing strategy. Besides, “Holding strategic assets such as patents is a strong source of sustained competitive advantage and General Electric has stood the test of time because of the several patents held.” (Ajaero, 2013)
Finally, Brand image helps company to be recognized all over the world as a respected brand. It is good example (Bowdin et al., 2006) that branding for an event is much more than a physical identify such as the five interlocking rings of the Olympics based on perceptions, how it relate to that event and what it promises.
This essay indicates the meaning of sustainable competitive advantage and its
The purpose of this essay is to discuss the meaning of sustainable competitive advantage with examples from hospitality industry.
Kotelnikov (2001) states that “sustainable competitive advantage is the focal point of the corporate strategy. It allows the maintenance and improvement of the enterprise 's competitive position in the market.” “Sustainability in the hospitality industry seeks to provide some answers to questions, attempts to resolve challenges and give guidance. Finally, it provides a new intellectual framework designed to stimulate discussion on conducting business which future generations can benefit from.” (Sloan et al. 2006, p7)
Nowadays, sustainable competitive advantages are required for a company to thrive in this global environment. Ajaero (2013) companies that became market leaders by exploiting the various avenues of competitive advantage available such as strong research and innovation, low pricing, and brand popularity, etc. Yet, these avenues are making by the strategy management of the company.
Different strategy management may build different unique image to the company in the market. For example, low pricing (Faulkenberry, 2006) done consistently can build brand loyalty be a huge competitive advantage such as Wal-Mart is the most capitalized company in the world built by its low pricing strategy. Besides, “Holding strategic assets such as patents is a strong source of sustained competitive advantage and General Electric has stood the test of time because of the several patents held.” (Ajaero, 2013)
Finally, Brand image helps company to be recognized all over the world as a respected brand. It is good example (Bowdin et al., 2006) that branding for an event is much more than a physical identify such as the five interlocking rings of the Olympics based on perceptions, how it relate to that event and what it promises.
This essay indicates the meaning of sustainable competitive advantage and its
References: AJAERO, Tony M. (2013). Example of companies with sustained competitive advantage. [online]. Last accessed 30 August 2014 at: http://www.mytopbusinessideas.com/example-companies-competitive-advantage/ BOWDIN, Glenn, A. J. et al. (2006). Events management. 2nd ed., Great Britain. FAULKENBERRY, Ken (2006). Sustainable competitive advantages: definition, types, & examples. [online]. Last accessed 30 August 2014 at: http://arborinvestmentplanner.com/sustainable-competitive-advantages-definition-types-examples/ FLOEY, Malcolm, McGillivray, David, McPHERSON, Gayle (2012). Event policy from theory to strategy. New York, Routledge. KOTELNIKOV, Vadim (2001). Sustainable competitive advantage. [online]. Last accessed 30 August 2014 at: http://www.1000ventures.com/business_guide/crosscuttings/sca_main.html MUKESH, Srivastava (2013). Building a sustainable competitive advantage. Journal of technology management & innovation, 8 (2), 47-60. SLOAN, Philip, LEGRAND, Willy, CHEN , Joseph S. (2013). Sustainability in the hospitality industry. [online]. 2nd ed., New York, Routledge. Book from Google last accessed 11 February 2013 at: http://books.google.com.hk/books?hl=zh-CN