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assets while during the post-industrial era they evolved and referred to as intellectual property, technology and human resources in addition to material, financial and asset resources. Regardless of the nature of resources exploited, competitive advantage is achieved by differentiating oneself from a market full of heterogeneous competitors and the strategic intent.

An organization needs to be aware of its internal strengths and weaknesses. It is only then it would be able to plan to exploit the external opportunities by minimizing threats. While theoretically, it is easier to demonstrate through models and theories, pragmatically organizations find it difficult to achieve competitive advantage despite having strategic intent.

Task Systems is one such organization, which the researcher has chosen for this research to demonstrate how it has strategic inclination yet faces the challenges of achieving sustainable competitive advantage.

Task Systems is an office furniture firm based in London, Specializing in custom-designing, manufacturing and distributing office furniture and accessories to corporate and individual customers. Task Systems has been following the industry pattern without having holistic strategic focus. Partly because it has been following industry management practices and has been successful so far due to the consistent demand for office furniture. However, for the future, as the industry matures and consumer preferences changes, it will need to evaluate its core competencies to achieve sustainable competitive advantage.

Research Questions

The main research question that the researcher endeavours to investigate is:

What are the key strategic issues facing 'Task Systems' in generating and sustaining competitive advantage?

To support rationale for the above answers the following research issues need to be investigated:

a. What is meant by strategic management

b. What are core competencies and how it helps firm to compete?

c. How is sustainable competitive advantage achieved?

Objectives

The objective of this research is to demonstrate how strategic management is a critical approach for organizations of the 21st century to compete in the business environment. The purpose is to show that realizing core competencies is not enough for organizations to remain in today's highly competitive market.

Instead, organizations need to be flexible, yet focused on its strategic vision, resources and core competencies to sustain competitive advantage. Furthermore, the researcher aims to use strategic business models to demonstrate how decision makers at Task Systems can realize and resolve the challenges the organization faces or is going to face in the future.

Definition of key terms and concepts

Strategic management - “Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages” (Dress et al 2005).

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