Titel: IKEA: Making a success of being "Stuck in the middle"?
Autoren/Herausgeber: Aqsa Siddiqui
Ausgabe: 1., Auflage
Scientific Essay from the year 2012 in the subject Business economics - Business Management, Corporate Governance, course: Strategic Management, language: English, abstract: Each organization in the world follows some strategies to carry out its business activities in an appropriate manner. Strategies are the game plans stating that how to achieve an organization’s goals. Strategies, if outlined in an optimal manner can take full advantage of a company’s competitive advantage, where competitive advantage refers to a company’s ability to stand out from its competitors in the business, i.e. a business’ distinctive point, which is not easily imitate able by the firms in competition. Competitive advantage of a firm can come from its core competencies, a business’ capability to do a thing in a different manner from others, organizational resources, firm’s plus points like an organization holds something very unique which others in that industry don’t have. It’s not a real issue that a company is having competitive advantage over the other firms, but the main thing is to ‘sustain’ that competitive edge over a long period of time. Because all business firms have resources, capabilities and core competencies, if these are utilized effectively, competitive advantage is gained but the crucial fact is the sustainability of that edge over a long time. For that purpose a business has to adopt such a business strategy which will lead to a sustainable competitive advantage, because a business strategy directs a business in dealing with its competition within the business or industry, in which it serves, i.e. it simply defines a competitive strategy.