Are you a Strategist? You have a Key Role in Creating Sustainable Competitive Advantage
Most organizational performance theories assume that there are certain “best practices” or “best ways” needed to outperform your rivals.
This seems to be true for some competitions, such as cookery and gardening.
But in competitions such as business (and sports and games) such a certain “right way” that will lead one to victory does not exist. In such competitions applying a certain standard or “best practice” will simply not
suffice to outperform others.
Rather, in business competitions you need a particular skill or intellect that is singular (special) and non-repeatable so as to be able to create sustainable competitive advantages.
So, in order to design a business that has a sustainable flow of wealth, a singularity needs to be generated instead of following generalized standards and theories. Strategic thinking is therefore critical in creating competitive advantages
since strategic thinkers try to find solutions for each different situation by using powerful insights and by looking at what is singular in each situation.
Generalized theories and systematic ways can support in finding potent insights and in generating conditions that are helpful in discovering these insights. But the actual discovery of those powerful insights that create profits depends on asymmetric market knowledge rather than on standardized theories.
That is why successful businesses invest in business strategists
: they try to explore the market to find powerful and unique insights so as to outperform rivals.
Source: Goddard, J. (2013) “Why Some Companies Consistently Outperform their Rivals” Business Strategy Review Vol. 14 Iss. 4 pp 7