Abstract:

In today’s environment is essential to create and develop organisations which are able to generate strategies which can grant them with a competitive advantage. The essence of competitive advantage is to be able to generate a strategy which makes the company to seem unique on its stakeholders and to develop products and services which are giving a unique value to the end customer (Ansoff et al, 2018). It is important to note that it is universally accepted that the survival of an organization is related with its ability to generate a competitive advantage. Strategic management provides the companies with a number of tools, techniques and approaches which can help an organization to reach its competitive advantage (Belias et al, 2020; Wheelen et al, 2017).