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Essay / Research Paper Abstract
This 3 page essay discusses the ides of strategic commitment in a company and the ways in which it adds to a larger corporate advantage. Strategic commitment is a separate and unique field of endeavor that is marked by the inclusion of ethics and the moral responsibilities of management as a part of a much larger strategic planning process. Follow-through on such a commitment is what allows any firm to enjoy a unique competitive advantage based on the relationship that it has established with its constituency. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: D0_BWcommit.rtf
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business seminar or trend, in reality it is a logical response to the desire for corporate excellence. Follow-through on such a desire leads to a competitive advantage for the
company that understands that it exists for reasons far more complex than making a profit or dominating the market. The early development of strategic commitment as a separate and unique
field of study and corporate management technique was marked by the inclusion of ethics and the moral responsibilities of management as a part of a much larger strategic planning process.
According to Hossmer (1994), to assure that a company maintain its competitive advantage through its commitment to its customers and the
way it does business, ethics must be restored as an integral part of the planning process. The key factor in ensuring commitment is the ability to engender trust among
the stakeholders of an individual firm and thereby encourage a two-way commitment. When commitment is in place, organizations are ensured of cooperative, innovative and strategically oriented efforts that are a
prerequisite for achieving success in a competitive global economy. Key factors in strategic commitment are purpose, strategy, values and behavior standards. Purpose specifies
the primary reason the company exists, strategy details its commercial rationale, values explain moral principles, while behavior standards facilitate the learning of company values. A sense of mission helps deepen
the commitment of employees to the organization. As a result, the corresponding commitment of the companys customers is also intensified. Campbell
(1992) makes an excellent point when he asserts that the central issue of strategic commitment is to define whether a firm is in business to make money for its shareholders,
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