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  • Essay / Firm Level Strategy - 1109

    Alliances help firms strengthen their competitive position by enhancing their market power (Kale and Singh 2009). It is the role of business strategy to be diverse and international in its thinking, unless it violates a core value or strongly held ideology (Hitt, 2015). Hitt (2015) teaches that a company-level strategy should help the company achieve above-average returns by creating value. The value returned is expected to exceed what these returns would be without the strategy. In other words, the strength of a viable business strategy is reflected in higher performance; results matter. Therefore, the business strategy must be able to generate a high-value result. In this article, the implementation of the company's strategy to obtain a patent and engage a low-cost manufacturer was true to this principle. Furthermore, Hitt (2015) argues that intangible resources within the firm often provide the basis for core competencies fueling competitive advantage. Hitt (2015) further asserts that intellectual know-how is an essential skill. In the case of Bear Claw, it was essential to success. The inventor, John, “knew he had found something special (Winter and Jerrold, p.. 44,