Creating Corporate Advantage Essay Example for Free

Creating Corporate Advantage EssayMost executives focus on individual elements of their resources, business, and organization without integrating all the parts into a whole. First, it is important to understand what a good corporate strategy is. According to the authors, it is not a random collection of individual building blocks, rather a fully constructed system of interdependent parts. In order for the organization to thrive, executives must actively direct decisions about resources the corporation go forth develop, and the business in which it will vie.During this, the executives must make sure all elements are aligned with one another. By applying the triangle of corporate strategy, the strengths of all special assets, skills and capabilities will illustrate how each(prenominal) element quotfits. quot The Resource Continuum is another model that shows the basis for corporate advantage along a continuum. This model can be applied diversely to different business, as one s ize does not fit all. Many companies choose to integrate other businesses based on products rather than resources, and end up with a quotplain vanillaquot infrastructure.By following this continuum it will constrain the set of businesses to compete in while limiting th There is no one ruff way to design a product, make a product, manage operations, or serve customers. The best way depends on a firms objectives, resources, competencies, and context (products and customers). Firms choose to compete in different ways. A firms strategy defines how it will compete in the marketplaceits own best way. Strategy formulation involves (1) defining the primary task, (2) assessing core competencies, (3) find order winners and order qualifiers, and (4) positioning the firm.The secret to effective strategy? Excel on the order winners, meet the order qualifiers, capitalize on core competencies, and verify focus. Corporate strategy drives functional strategy. Functional strategies must be consist ent with and supportive of corporate strategy. Strategic decisions in the operations function involve products and services, processes and technology, susceptibility and facilities, human resources, quality, sourcing, and operating systems. Policy deployment is a planning system that helps align day-to-day operating decisions with the companys overall strategy.