Business Strategy from Wharton: Competitive Advantage

https://learning.edx.org/course/course-v1:Wharton+StrategyX+1T2023/home Strategy Definition a distinctive … different from competitors …array of… more than one …interdependent choices that… complementary …address certain questions objective where to compete (product, customers, geography) value proposition source of competitive advantage (price, costs; activites, resources, capabilities) Evaluation Internal Fit Strategy, CA and OE vs SP Competitive advantage Fundamentally higher prices and/or lower costs Operational effectiveness (OE) Best practice → absolute but not relative improvement (often through copying) Necessary but not sufficient, as often leads to strategic convergence, meaning the value proposition too similar for consumers (low differentiation) Strategic positioning (SP)