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Essay / Research Paper Abstract
This 9 page paper looks at the concept of the resource based view (RBV) and the design school approach to strategy which are aligned with Porter’s theory of competitive advantage and discusses the way in which they may be seen as complimentary to each other. The bibliography cites 7 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TECAresource.rtf
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Unformatted sample text from the term paper:
competitive environment and the resources that are needed to undertake the tasks, with aspects such as positioning of the firm, an d the choosing of different strategies. Two concepts which
may be seen as complimentary, but which are often considered separately are the resource based view and the concept of competitive advantage. These take very different approach to determining the
way that strategies can and should be assessed, but when looking at the underlying perspective is may be argued that Porters model of competitive advantage is more prescriptive, with specific
reasoning and advice of potential actions that needed to be taken an approach aligned with the design based school, where the formation of strategy may be seen as undertaken in
a formulated approach (Mintzberg et al. 2008). By comparison the resource based view this may be seen as a broader approach, but if applying the lessons and the model it
is one that may help with the gaining of competitive advantage. To assess the way that these may be complimentary each needs to be examined.
Michael Porter (1985) has considered the way in which firms compete, and defined two types of competitive advantage. These are cost advantage and differentiation. These are two
different ways a competitor may get the edge on its rivals. For example, if there are two products which are very similar, neither has the advantage, but if one looks
better, or has extra features, it may have an advantage just as if one costs a company less to produce, the company will have an advantage afforded by superior profits.
To compete in the long term Porter has argued that there should be a source of competitive advantage. To understand what is meant by each of these strategies the
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