Strategic Advantages

Strategic Advantages - Baldrige Glossary Definition

(Baldrige Glossary for Business, Government (Public Sector) and other Nonprofit

The term 'Strategic Advantages' was first introduced in the Baldrige Glossary in 2008.

Strategic Advantages

The term “strategic advantages” refers to those marketplace benefits that exert a decisive influence on an organization’s likelihood of future success. These advantages frequently are sources of an organization’s current and future competitive success relative to other providers of similar products. Strategic advantages generally arise from either or both of two sources: (1) core competencies, which focus on building and expanding on an organization’s internal capabilities, and (2) strategically important external resources, which are shaped and leveraged through key external relationships and partnerships.

When an organization realizes both sources of strategic advantages, it can amplify its unique internal capabilities by capitalizing on complementary capabilities in other organizations.

See the definitions of “strategic challenges” and “strategic objectives” for the relationship among strategic advantages, strategic challenges, and the strategic objectives an organization articulates to address its challenges and advantages.

Note: Blue words above are hyperlinks to other Integrated Glossary terms.

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Baldrige Glossary - Strategic Advantages