meaning that nowadays, firms face a volatile, uncertain, complex, and ambiguous environment.
Published in Chapter:
Is Strategy Dead?: Moving From Sustainable Competitive Advantage to Transient Advantage
Raquel Meneses (University of Porto, Portugal)
Copyright: © 2021
|Pages: 18
DOI: 10.4018/978-1-7998-1843-4.ch001
Abstract
Traditionally, it was seen as a major goal for companies to achieve sustainable competitive advantage, based on external conditions and/or internal conditions. Firms should seize opportunities and neutralize threats based on their strengths and avoiding their weaknesses. However, nowadays, we live in a volatile, uncertain, complex, and ambiguous context. Markets are very dynamic (hypercompetition), and thus, achieving a sustainable competitive advantage is not possible anymore. In this conceptual chapter, the authors claim that organizations need to be aware of and prepared for this transition. Firms need different tools and frameworks to deal with future situations – design a strategy is not enough; now, to achieve success, firms have to follow a transformational, VUCAS, strategy.