Submitted by: Submitted by Ered
Views: 10
Words: 5648
Pages: 23
Category: Business and Industry
Date Submitted: 09/12/2016 11:36 PM
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 subordinates, motivating them, controlling what happens and evaluating results. Decisions by...