Difference between revisions of "Sustained competitive advantage"
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Latest revision as of 15:24, 17 July 2020
Sustained competitive advantage is maintaining what a firm does especially well, compared to rival firms – by (1) continually adapting to changes in external trends and events and internal capabilities, competencies, and resources; and (2) effectively formulating, implementing, and evaluating strategies that capitalize upon those factors.
Definition
According to the Strategic Management by David and David (15th edition),
- Sustained competitive advantage. Maintaining what a firm does especially well, compared to rival firms – by (1) continually adapting to changes in external trends and events and internal capabilities, competencies, and resources; and (2) effectively formulating, implementing, and evaluating strategies that capitalize upon those factors.
