Organizational success crucially depends on having a superior strategy and effectively implementing it. Companies that outperform their rivals typically have a better grasp of what customers value, who their competitors are, and how they can create an enduring competitive advantage. Successful strategies re ect a solid grasp of relevant
forces in the external and competitive environment, a clear strategic intent, and a deep understanding of a company’s core competencies and assets. Generic strategies rarely
propel a rm to a leadership position. Knowing where to go and nding carefully considered, creative ways of getting there are the hallmarks of successful strategy.