What are strategic competitiveness strategy competitive adva

Solution

Strategic competitiveness is achieved when the company formulates and implements a value creating strategy which cannot be copied or used by other competitiors.

Strategy- Strategy is defined as a plan which is used to achieve the goals and objectives of the organisation.

competitive advantage- Competitive advantage is what makes the firm better than the competitors. For example A company would be having cheaper and skilled workforce, or having new technology, providing goods and services on lower prices than others.

Companies are not satisfied with thier average returns . Above average returns are the returns which the companies will be getting while having the competitive advantage over the rivals for example producing goods and services cheaper than competitors for doing this they formulates a competitive strategy to get the extra returns.

Strategic Management Process - It is a continous process which gives the steps that Management use to formulate a strategy and to implement it to acheive the goals and objectives

Following are the main steps involved