Problems of Competitive Strategy Choice According to Industry and Regional Factors
An essential condition for sustainable development and maintenance of long-term competitiveness of a company lies in the formulation of an adequate and appropriate strategy. Strategic decisions should be based on a correct understanding of the results of systematic analysis carried out by manage...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universitas Indonesia
2020-12-01
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| Series: | International Journal of Technology |
| Subjects: | |
| Online Access: | https://ijtech.eng.ui.ac.id/article/view/4531 |
| Summary: | An
essential condition for sustainable development and maintenance of long-term
competitiveness of a company lies in the formulation of an adequate and
appropriate strategy. Strategic decisions should be based on a correct
understanding of the results of systematic analysis carried out by managers to
form sustainable competitive advantages. The following aspects are
contemplated: industry and regional conditions within the strategic areas of
activity and interests of the organization, prevailing forms and types of
strategic interactions, level of innovative potential of the industry and
region, and specific influencing factors of macro and micro levels. However,
not only the socio-economic significance (efficiency and rationality) of the
decision itself is really important but also the speed, and even more precisely
the timeliness of its implementation, predetermined by the dynamics of industry
factors. This paper examines the relationship of innovative strategies
recommended to companies with the stage of the industry life cycle, along with
the specifics of territorial and regional factors. It is argued that the use of
classical competition tools or the use of innovative ones, including radical
strategic approaches depend on the specifics of industry and regional factors.
As an example, the logic and directions of innovative solutions for an energy
company are considered. |
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| ISSN: | 2086-9614 2087-2100 |