Question

How can a strong, positive culture enhance a firm’s competitive advantage? Explain and support your answer.

*Please use different answer from the chegg because my friends already use it.

Answer 1

A strong, positive culture enhance a firm's competitive advantage in a following way:

• Differentiate Brand: When an organization has strong culture, it helps in building in strong brand. Cohesive company culture automatically build reputed and most reliable brand.
• Attract and Retain Talent: To build a loyal and cohesive team, companies should hire employees who has values in alignment with that of your organization. Current employees represent strong culture of the organization and hence attract more employees and talent outside.
• Strong Relationship: Great culture based on core values also build strong relationships with partners, customers and suppliers.These relationship go beyond business relationships.