Role of Strategic Business Management in Improving Competitive Advantage and Long-Term Success
Keywords:
Long-Term Success, Innovation, Organizational Performance, Competitive Advantage, Strategic Planning, Strategic Business ManagementAbstract
This research focuses on the strategic business management and how it can enhance competitive advantage and help sustain long-term organizational success. The study is of the type Quantitative Analytical Research Design and uses Secondary Data which are obtained from published academic documents, documents from organizational, industry and institutional publications. The analysis is limited to strategic planning, resource management, innovation and other strategic practices in terms of its possible relationship to the organizational performance and competitive advantage. Based on the 90 organizational records, 42 organizations (46.67%) had a high level of strategic planning and 39 organizations (43.33%) had highly effective resource management. The highest percentage of effective strategic utilization was with human resources (53.33%), followed by brand resources (51.11%) and financial resources (50.00%). In addition, 40 organizations (44.44%) had a high level of innovation capacity. The results reveal that strategic planning, efficient use of resources, innovation, and organization capability are important factors for better competitive positioning and better organizational performance.
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