Sustainable Competitive Advantage With the Balanced Scorecard Approach

Abstract

Why are some firms more successful than others? This question has been intensely debated by strategic management researchers over the last thirty years. Competitive advantage is recognised as being the major cause for explaining top organizational performance and is a fundamental goal of academic strategic management studies. Recently, there has been an increasing amount of empirical research on the subject of competitive advantage (Ray et al., 2004; Newbert, 2008) and about distinguishing competitive advantage from organisational performance (Powell, 2001). The relevance of competitive advantage is not simply determined by external factors, but also by those internal sources that have been considered critical for successful organisations.