A competence‐based strategic management model factoring in key success factors and benchmarking

Abstract

PurposeTo establish a comprehensive model of strategic management emphasized on the interactions of the organization with its external and internal environments and also to further develop a strategy based on competitive advantage.Design/methodology/approachBy using key success factor and benchmarking methodologies as well as Multi‐Dimensional Space technique, the operational customer's needs fall into four strategic cells: “anchoring”, “narrowing”, “following‐up”, and “catching‐up”, which can be improved in accordance with strategic moves.FindingsThe empirical study examines Taipei International Airport (TPE) and undertakes a comparison with its six major competitors in Asia. It has been found that Singapore as well as Hong Kong international airports prevailed over other competitors in the overall performance and thus were selected as the benchmarking airports. While the TPE outperforms the benchmarking airports in the Core Functional Area, it lags well behind in the Support Area. It is therefore strongly suggested that the TPE should develop its ability to build up Key Success Factors as well as to benchmark efficiently and effectively if it is to secure competitive advantage over the benchmarking airports.Originality/valueThe quantitative and strategic management model we built could help organizational members to analyze corporation's current position, to reach more competitive strategies, and to evaluate/change strategies effectively.