Share these talks and lectures with your colleagues
Invite colleaguesWe noted you are experiencing viewing problems
-
Check with your IT department that JWPlatform, JWPlayer and Amazon AWS & CloudFront are not being blocked by your network. The relevant domains are *.jwplatform.com, *.jwpsrv.com, *.jwpcdn.com, jwpltx.com, jwpsrv.a.ssl.fastly.net, *.amazonaws.com and *.cloudfront.net. The relevant ports are 80 and 443.
-
Check the following talk links to see which ones work correctly:
Auto Mode
HTTP Progressive Download Send us your results from the above test links at access@hstalks.com and we will contact you with further advice on troubleshooting your viewing problems. -
No luck yet? More tips for troubleshooting viewing issues
-
Contact HST Support access@hstalks.com
-
Please review our troubleshooting guide for tips and advice on resolving your viewing problems.
-
For additional help, please don't hesitate to contact HST support access@hstalks.com
We hope you have enjoyed this limited-length demo
This is a limited length demo talk; you may
login or
review methods of
obtaining more access.
Printable Handouts
Navigable Slide Index
This material is restricted to subscribers.
Topics Covered
- Customer base
- Google's competitive advantage model
- Porter’s typology of competitive advantage
- Cost competitive strategy vs. differentiation competitive strategy
Links
Series:
Categories:
Talk Citation
Amason, A.C. (2023, March 30). Types of competitive advantage [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved December 9, 2024, from https://doi.org/10.69645/PNQW2655.Export Citation (RIS)
Publication History
Other Talks in the Series: Strategic Management: Theory and Practice
Transcript
Please wait while the transcript is being prepared...
0:00
Hi, I'm Allen Amason the Dean of
the Parker college business
at Georgia Southern University,
Professor of Management
and author of
the textbook from
Strategic Management
from theory to practice.
I am talking in this session
about different types of
competitive advantage.
0:20
Competitive advantage is the
crux of strategic management
that the singular focus
of the strategic manager,
Peter Drucker famously once
said that the purpose of
a business is to create
a satisfied customer
who will do business with the
firm over and again because of
their satisfaction will
spread the news of
business because of their
satisfaction will of course,
increase the businesses
customer base and increase
the businesses grave engagement
across its various
potential customers.
To do that, what a
strategic manager looks to
do is to increase
competitive advantage,
to increase the value that
the customer sees in the
transaction and increase,
of course, the demand
for the firm's
product or services.
1:03
The question arises about
competitive advantage.
Are all competitive
advantages made the same?
Are all competitive advantages
done in exactly the same way,
or are there different types
of competitive advantage?
This question arises
because it really is
an old discussion in the
strategic management discipline.
It's one that goes all the
way back to the origins of
the discipline and the
work of Michael Porter,
where he described a
simple typology of
three types of competitive
advantage in his 1980 work,
those three types who are
low cost, differentiation
and focus.
Now, these concepts, of course,
are still very
commonly used today.
This typology, these
three types are
still commonly heard
in the lexicon of
strategic management
and commonly
discussed by business
managers and academics alike.
But the terms themselves
have become so common,
are so simple really
in their elegance.
Sometimes we can lose
sight of what they
really represent.
When we do lose sight
of what they represent,
it undermines the
power of the concepts.
I wanted to talk about
them briefly and just help
if I could, listeners
of this talk to
understand what these types of
competitive advantage
really represent and
clarify the implications of
what they really
mean for a business.