Journal•ISSN: 0895-4186
The Financial Executive
About: The Financial Executive is an academic journal. The journal publishes majorly in the area(s): Financial accounting & Financial services. It has an ISSN identifier of 0895-4186. Over the lifetime, 109 publications have been published receiving 3341 citations.
Topics: Financial accounting, Financial services, Accounting standard, Comparison of management accounting and financial accounting, Mark-to-market accounting
Papers published on a yearly basis
Papers
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2,366 citations
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96 citations
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TL;DR: In this article, the authors define strategy as "selecting the set of activities in which an organization will excel to create a sustainable difference in the marketplace." The sustainable difference can be to deliver greater value to customers than competitors, or to provide comparable value, but at lower costs than competitors.
Abstract: The strategy literature is uncommonly diverse. Scholars and practitioners have very different frameworks for strategy and don't even agree on its definition. While \"strategy maps\"--to be discussed in this article--and Balanced Scorecards can be developed for any strategic approach, we base our approach on the general framework articulated by Michael Porter, a founder and outstanding leader in the strategy field. Porter argues that strategy is about selecting the set of activities in which an organization will excel to create a sustainable difference in the marketplace. The sustainable difference can be to deliver greater value to customers than competitors, or to provide comparable value, but at lower costs than competitors. He states, \"Differentiation arises from both the choice of activities and how they are performed.\
90 citations