Management, Strategic management, Competitive advantage

The present day business environment is largely characterized by the large scale fluctuations and turbulence in the business environment. This has called for an immediate need for business organizations to develop a strategic framework that seeks to generate competitive advantage. Prescriptive strategy is defined as a business strategy in which the objectives of the organization are stated in advance and the critical elements of the strategy have been formulated before the actual implementation of the strategy. The theoretical aspect of this strategy is based on the aspect that adopting a rational and factual analysis of the strategic options leads to generation of the best output (Lynch, 2007, p.527).