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

Marks and Spencers Competitive Advantage - Essay Example This paper illustrates that strategic management is related to the complexity which arises from ambiguous as well as non-routine circumstances organization-wide. It is an important management technique for the managers to control the available resources of the business organization on a day-to-day basis for the development of the company. Since strategic management is related to the difficult and complex issues of a business organization under 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 acquire 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 strategy’. This set of strategies included competitive b usiness strategies related to prices of goods and services, product and quality differentiation and hybrid and focus. The second set of strategies includes business strategies which are related to the aim of the business organization to achieve competitive advantage. These strategies include sustainability strategies, hypercompetitive strategies, and collaboration strategies. Competitive strategy is regarded as the most important element which is applied by business organizations to acquire the greater competitive advantage in the market. This strategy includes pricing strategies, differentiation strategies etc. to achieve the desired goal. These strategies affect the preference and choice patterns of customers and thus help the business unit to reach its desired destination of higher competitive advantage. Competitive advantage is acquired by business units through effective differentiation of products based on proper environmental and societal conditions and performances.