Competitive Strategy and Competitive Advantages of Small and Midsized Manufacturing Enterprises

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E-Leader, Slovakia 2006 COMPETITIVE STRATEGY AND COMPETITIVE ADVANTAGES OF SMALL AND MIDSIZED MANUFACTURING ENTERPRISES IN SLOVAKIA Emilia Papulova University of Economics Bratislava, Slovak Republic papulova@dec.euba.sk Zuzana Papulova Comenius University Bratislava, Slovak Republic zuzana.papulova@fm.uniba.sk Abstract: In order to be successful, organizations must be strategically aware. The need for all managers is to by able to think strategically. Decisions by managers have a strategic impact and contribute to strategic change. Strategic management is a highly important element of organizational success. Strategic success requires a clear understanding of the needs of the market, and the satisfaction of targeted customers more effectively and more profitably than by competitors. Real competitive advantage implies companies are able to satisfy customer needs more effectively than their competitors. It is achieved if and when real value is added for customers. Small and midsized enterprises which understand their customers can create competitive advantage and so benefit from lower prices and loyalty of customers. Higher capacity utilization can then help to reduce costs. Thinking Strategically Today’s organizations have to deal with dynamic and uncertain environments. In order to be successful, organizations must be strategically aware. They must understand how changes in their competitive environment are unfolding. They should actively look for opportunities to exploit their strategic abilities, adapt and seek improvements in every area of the business, building on awareness and understanding of current strategies and successes. Organizations must be able to act quickly in response to opportunities and barriers. Managers operating in organizations perform a number of activities including planning and organizing the work of their

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