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Essay text:
A clear and precise strategic principle can help counteract this shortage of experience. In Southwest's case, employees have consistently made trade-offs in keeping with the company's strategic principle.
There is nothing the competitors do not know. They certainly understand the technology, cost structures, and route planning of Southwest. They even have the same equipment, locations, and marketing muscle. Yet, Southwest's competitors have been unable to imitate its success.
Building Strategic Principle & Business Strategy
Southwest has distilled its strategy into a phrase and have used it to drive consistent strategic action throughout its organizations, "Meet customers' short-haul travel needs at fares competitive with the cost of automobile travel"...
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