Competitive strategy and planning focus is on company

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Competitive Strategy and Planning Focus is on company and its competitors as organizations. Competition is between companies in terms of resources and capabilities. Strengths and weakness are company-oriented, not product-oriented. Establishment of competitive advantage.
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Key Concepts Purpose of a Business Enterprise Vision and Mission Statement Performance/Effectiveness Strategic Goal (Intent) Competition Stakeholders The Growth Imperative Resources & Capabilities Core Processes and Competencies Competitive Advantage Strategic Fit
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Purpose of a Business Enterprise Production of Goods and Services Value Creation Output has greater value than the sum (cost) of inputs Accomplished through “effective” collective action (organization) Benefits society and drives economic progress Need Incentives to Create Value Capitalism and free markets Labor, product, and capital markets The Business (Company, Enterprise, or Firm) Exists to … Was created to …
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Social Responsibility The expectation that businesses will strive to improve the overall welfare of society.” Also referred to as corporate citizenship Now includes environmental sustainability Triple bottom line Financial, social, and environmental performance Keeping social responsibility in perspective Acts as a constraint on decision-making and behavior (i.e. “do no harm”, do the right thing) Not a “purpose” or reason for existence
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Vision A vision is a goal that is “massively inspiring, overarching, and long term”. It is the leader of an organization who develops, articulates and implements a vision.
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