Stakeholders and Competitive Advantage
Companies with successful strategies generate value for society. When firms compete in
their own self-interest while obeying the law and acting ethically, they ultimately create
value. In so doing, they make society better.15 Value creation lays the foundation for the
benefits that successful economies can provide: education, public safety, and health care,
among others. Superior performance allows a firm to reinvest some of its profits and to
grow, which in turn provides more opportunities for employment and fulfilling careers. In
ChapterCase 1, we saw that Apple created tremendous value for both its shareholders and
customers, along with creating jobs.