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Explain the Relationship Between Strategic Management and Competitive Advantage for Firms

question 63

Essay

Explain the relationship between strategic management and competitive advantage for firms. How can a firm achieve sustained competitive advantage?


Definitions:

Objective Thought

The process of thinking that is not influenced by personal feelings, interpretations, or prejudice; based on facts; unbiased.

Multisystemic Therapy

A form of intensive family- and community-based treatment program designed to address the complex needs of youths with behavioral problems.

Scott Henggeler

A psychologist known for his work in developing multisystemic therapy (MST), an intensive family- and community-based treatment for serious juvenile offenders.

Problem-solving Therapy

A psychological treatment that helps individuals cope with stressful life experiences through effective problem-solving skills.

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