Browsing: sustainable competitive advantage

Introduction. The future of organizations depends decisively on their ability to constantly improve their technologies and processes and, on this basis, to develop new products and services that correspond in quantitative and qualitative terms to the evermore diversified requirements of the demand bearers.

Aim of the study. The paper addresses relevant aspects related to creativity and innovation as inexhaustible sources of sustainable competitive advantages. The conceptual framework of creativity is defined and the important phases of a creative process are delimited. The main types of innovations are briefly presented, while at the same time the variables defining the innovation capacity of organizations are revealed. The final section of the paper highlights the key role of management in stimulating creative and innovative processes within organizations and in developing innovative projects.
Keywords: organization, creativity, innovation, management, sustainable competitive advantage.
JEL Classification: M10, L21, O31, O32.

Introduction. Anywhere in the world and in any market, the firms are facing more and more a major challenge to meet growing customer demand towards addressing specific business or operational needs of their customers. In a globalization era, a firm’s customers are more oriented on how to create value for their own customers and such they are looking for an approach shift from their providers. Nowadays, the customers are expecting from their providers to better understand the value creation process in their organization.

Aim of the study. Through knowledge combination, the provider and the customer are acting like partners in the co-production of a customer solution to solve a specific customer business requirement. The expected approach is for the provider to create value not for the customer but together with the customer. Even though a number of driving forces requires the shift of a firm’s focus towards taking the perspective of the customers of that firm, it is not an easy task for any firm no matter the market it is operating in or the geographical area the firm is covering. But this shift could represent one effective and efficient way for the firm to differentiate in the market and to be rewarded with achieving a competitive advantage to be sustained over a longer period of time.
Keywords: value creation, sustainable competitive advantage, customer solutions.
JEL Classification: L10, D40, M10