Literature review summaries the finding of a search of literature that demonstrates that the literature has been read, located and evaluated as Collis and Hussey (2003) stated in their book ‘Business Research’. The literature review also focused on the various knowledge, views and ideas expressed by different authors whether for or and against a topic in the field of studies, its strengths and weakness that has become strategic and critical to this review in the following areas: Competitive Advantage, Corporate Strategy, Marketing Strategies, Corporate Responsibilities, Reward Strategy, Competition, Change Management, Leadership/ Leadership Style, Customer Relation/Satisfaction and Pricing Strategy.
Competitive advantage is the value a firm gives to a product as Porter (1985) says. Dess, et al (2003) also Goldman and Nieuwenhuizen (n.d.) stated, that it is an innovation issue in finding a new and improved way of doing things ensuring long term survival of the organisation. Barney, (2001) gives four empirical indicators for the firm to generate sustained competitive advantage, value, rareness, imitability, and substitutability, while Porter further stated that there are two basic types of competitive advantage: cost leadership and differentiation. This can be achieved essentially by differentiating ones products and services from those of competitors and through low costs or by customising the product. However, Porter advised firms to avoid being ‘stuck in the middle’; Knights (1992) found it difficult to follow in practice, while Pitelis and Taylor (1996) argued and understood the concept as being stuck in the middle between the two, Ansoff (1965) used it but more so to identify what a firm needed to compete effectively, therefore Porter’s recommendations for achieving competitive advantage leaves one to conclude it as deficient. Downes’ article “Beyond Porter” stated that five forces are no longer viable, but identified three new forces as a strategic business design tool, which has become powerful forces recently, since the markets are highly sophisticated with information technology making digitalisation, globalisation and deregulation viable options. NGC’s competitive advantage can be seen in their location which is strategically situated in the ‘education centre’ of the country. Its leadership style involves an all encompassing approach and their methods of communications have all contributed significantly to their attaining competitive advantage. Additionally, their exposure to wider global initiatives has had the resultant effect of providing an expanding world view and stakeholders input.
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Corporate strategy can be seen as a management control system in organisation. Johnson and Scholes (2004) define strategy as ‘the direction and scope of an organisation over the long termÃ¢â‚¬Â¦.’ Thompson, (2004, p.24) stated, corporate strategy consists of the initiatives the company usesÃ¢â‚¬Â¦Ã¢â‚¬Â¦the approaches corporate executives pursue Ã¢â‚¬Â¦and the means of capturing and turning cross-businesses synergies into competitive advantage. Some authors criticisms of Porter’s is that his concepts need further clarification,
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