Marks and Spencers Competitive Advantage Essay Example | Topics and Well Written Essays - 3750 words

Marks and Spencers Competitive Advantage - Essay ExampleThis piece illustrates that strategic management is colligate to the conglomerateity which arises from ambiguous as well as non-routine circumstances organization-wide. It is an heavy management technique for the managers to control the available resources of the business organization on a day-to-day stand for the development of the company. Since strategic management is related to the difficult and complex issues of a business organization under(a) consideration therefore these issues also include business decisions and judgments. These decisions and judgments are based on the conceptualization of complex issues. The business-level strategy of the company is an important issue of strategic management for any organization which helps the company to carry the greater competitive advantage in the market. The business-level strategies comprise of two sets. The first set of strategy is related to the bases of competitive stra tegy. This set of strategies included competitive business strategies related to prices of goods and services, product and quality specialty and hybrid and focus. The second set of strategies includes business strategies which are related to the aim of the business organization to pass on competitive advantage. These strategies include sustainability strategies, hypercompetitive strategies, and collaboration strategies. Competitive strategy is regarded as the most important element which is utilise by business organizations to acquire the greater competitive advantage in the market. This strategy includes pricing strategies, note strategies etc. to achieve the desired goal. These strategies affect the preference and choice patterns of customers and thus help the business unit of measurement to reach its desired destination of higher competitive advantage. Competitive advantage is acquired by business units by dint of effective differentiation of products based on proper enviro nmental and societal conditions and performances.