Would you agree with the statement?

I think the most important element to improve an organizations competitive advantage and create value for all stakeholders depends on the environment. Each industry is different and there is no one size fits all in strategic management. However, there are a few elements that anyone firm can deploy to gain a competitive advantage including: customer relations and product improvement, cost reduction, and recruitment and retention. Understanding the industry and proactively looking for methods to improve operations and cash flow are essential to gaining competitive advantage. Overall, I enjoyed this course and everything it had to offer. Strategic management is truly an interest of mine as it incorporates all aspects of business to better position a company.