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Beyond competitive advantage : how to solve the puzzle of sustaining growth while creating value
Author: Todd Zenger
Harvard Business Review Press
The basic principles of business level strategy as taught in business schools and practiced in companies are simple: discover, target, and then craft attractive market positions that deliver sustained advantage in competitive markets. Firm achieve these positions as they configure and arrange resources and activities in ways that yield either unique value to customers or common value at unique low cost. This concept of strategy as position remains a central concept to business school curricula across the globe. Valuable positions, protected from imitation or appropriation by others, provide sustained profit streams. The problem with this view of strategy is that investors reward companies only once for discovering, occupying, and defending a valuable market position. Once the achievement of that position is recognized and valued, investors turn and ask for more, and more requires successfully delivering either unexpected extensions of the current advantage or –more desirable-creating new advantages
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