Essays on Four Criteria of Sustainable Strategic Capabilities Literature review

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The paper “ Four Criteria of Sustainable Strategic Capabilities” is an engrossing variant of the literature review on management. The business environment is fast becoming more competitive. The increased competition is triggered by globalization and technological advancements. The latter has resulted in a situation where domestic companies now not only compete among themselves but also with foreign companies (Barney and Hesterly 2005, p. 5). Take for example the Australian airline industry that has become more competitive than ever before because domestic airlines, such as Qantas now face stiff competition from foreign airline firms, such as British Airways and Virgin Atlantic among others.

Therefore, for firms to succeed in the present-day business environment, managers must ensure that companies pursue strategies that enable them to maintain a sustainable competitive advantage. To achieve this, a firm must utilize its resources, capabilities, and core competencies (Sellani 2007, p. 7). This paper begins by discussing the concept of sustainable advantage. The second part describes the importance of the use of resources, capabilities, and core competence for competitiveness. Finally, the essay will discuss the four criteria that managers can use in choosing which of their capabilities create a sustainable advantage using Qantas as a case study. The Concept of Sustainable Competitive AdvantageThe concept of sustainable competitive advantage has become an area of increased focus by academicians and business analysts.

As competition gets stiffer in all business industries, it is believed that only businesses that are capable of maintaining sustainable competitive advantage are capable of surviving. Sustainable competitive advantage happens when a firm develops attributes that enable it to outperform its rivals in the industry in the long term (Barney and Hesterly 2005, p.

15). This implies that to create a sustainable competitive advantage, an organization must ensure that it pursues strategies that are unique, imitable, or surpassable by competitors in the industry. Some of the attributes that a company can use to gain a sustainable competitive advantage in the industry include among other things highly skilled and trained personnel.

References

Barney, J. B., & Hesterly, W. S 2005, Strategic management and competitive advantage: concepts. Pearson/Prentice Hall, London.

Barney, J 1991, “Firm resources and sustained competitive advantage.” Journal of Management, vol. 17, no. 1, pp. 99-120.

Barney, J. B., Clark, D. N 2007, Resource-Based Theory: Creating and Sustaining Competitive Advantage. Oxford University Press, London.

Barney, J., & Clifford, T. G 2013, What I didn't learn in business school: how strategy works in the real world. Harvard Business Press, New York.

Eames, J 2015, The flying kangaroo: great untold stories of Qantas...the heroic, the hilarious and the sometimes just plain strange. Allen & Unwin, Sidney.

Grant, R.M. 1991, ‘The resource based theory of competitive advantage: implications for strategy formulation’, California Management Review, vol. 33 (Spring), pp. 114-135

Helfat, C.E. and Peteraf, M.A. 2003, ‘The dynamic resource-based view: Capability lifecycles’, Strategic Management Journal, vol. 24, pp. 997-1010.

Henry, A.E. 2011, The internal environment: a resource-based view of strategy, viewed 21 March 2016 http://fba.aiub.edu/Files/Uploads/MGT110043.pdf

Sellani, S 2007, What's your BQ?: Learn how 35 companies add customers, subtract competitors, and multiply profits with brand quotient. Academic Learning Company LLC, Sidney.

Stix, M 2012, How control fosters learning: the association between control mechanisms and firm capabilities. GRIN Verlag, Berlin.

Teece, D.J., Pisano, G. and Shuen, A. 1997, ‘Dynamic capabilities and strategic management’, Strategic Management Journal, vol. 18, no. 7 (Jun, 1992), pp. 509-533.

Warner, A. G 2010, Strategic analysis and choice: a structured approach. Business Expert Press, London.

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