Achieving competitive advantage: The role of product service strategy, sensing capability and novelty

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The extent to which a firm can create novelty is governed by several factors both internal (e.g. strategies and dynamic capabilities) and external (e.g. environmental turbulence). The stronger the fit between the internal and external factors, the higher the level of possible novelty creation. In turbulent marketplaces – e.g. telecommunications – the rapid pace of innovation and new product development can help achieve high levels of novelty. However, in slower-paced market environments, where there is less ongoing evolution and change, it can be difficult for companies to stand apart and achieve competitive advantage through novelty. Instead, Product Service Strategy and Sensing Capability are the key drivers in sales and marketing success.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2018), "Achieving competitive advantage: The role of product service strategy, sensing capability and novelty", Strategic Direction, Vol. 34 No. 10, pp. 25-27. https://doi.org/10.1108/SD-06-2018-0145