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Competitive Advantage and Globalization
Competitive advantage implies the creation of a system that has a unique advantage over competitors. With the advent of globalization, the competition has become stronger and can be located anywhere in the world. The idea behind competitive advantage is to create customer value in an efficient and sustainable way. One approach to address this issue would be the use of resource-based theories of competitive advantage.
Resources are not simply raw materials but include all the inputs, such as intellectual capital, necessary to produce a good or service. Consider this as you address globalization strategies for Fortune 500 firms in this assignment. Be mindful of constraints, such as transportation costs and cultural barriers, as you complete this assignment.
Review the article Purchasing, supply chain management and sustained competitive advantage: The relevance of resource-based theory by J. B. Barney from the readings for this module.
Based on your analysis of this article and other readings for this module, respond to the following:
- Explain how resource-based competitive advantage drives globalization strategies for Fortune 500 firms.
- Why are application of project management principles critical to effective business operations?
Barney, J. B. (2012). Purchasing, supply chain management and sustained competitive advantage: The relevance of resource-based theory. Journal of Supply Chain Management,48(2), 3-6. Retrieved from Proquest database.
Write your initial response in 300 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation