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Samsung Electronics: A Competitive Advantage?

1458 Words6 Pages

What is the competitive advantage? Is it a temporary or for life time? What strategy to use to have or gain a competitive advantage? What is a strategy means? Can a business continue if it has no competitive advantage? What are the approaches that Richard Whittington put? Is there any relation with the business? There are so many questions to answer. In business world, these questions are important to know its answer. Business world is like a forest, the survival of the fittest. This essay will answer those questions and in order to make it more clear, the essay will take Samsung Electronic as a case study.

What a strategy means. Lots of people put a meaning for a strategy. In 1962, Chandler put a definition and in 1971 Andrews put another definition and in 1980 Porter put another definition and finally in 2000 Word Smyth put a definition to be used to identify strategy. Word Smyth put this definition in order to be used by everyone. Word Smyth identified strategy as is a plan, method, or series of actions designed to (accomplish or gain with effort) a clearly stated/particular goal. Anyone can put a definition for strategy, but strategy to be called strategy it must have some characteristics. These characteristics are; strategy concern the long term, determine goals and objectives, allocate resources in order to achieve these goals, analysis what options are available to organization and what to pursue, take place in a competitive environment where

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