BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Superior performance in the same industry
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Performance of two or more firms at the same level
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Obtain a superior position
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Outperforming competitors over a prolonged period of time
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Detailed explanation-1: -A well-known example of a company with a sustainable competitive advantage is Walmart. Walmart maintains a sustainable competitive advantage in part because its strategies are specific to its organization and these strategies are known for creating a gap between Walmart’s performance and that of its competitors.
Detailed explanation-2: -The idea here is that if a firm is to maintain sustainable competitive advantage, it must control a set of exploitable resources that have four critical characteristics. These resources must be (1) valuable, (2) rare, (3) imperfectly imitable (tough to imitate), and (4) nonsubstitutable.
Detailed explanation-3: -What are the Sources of Sustainable Competitive Advantage? The sustainable competitive advantage sources for any company include Brand Loyalty, Innovation, Proprietary Information Scale, Intellectual Property, Innovation, Network-effect.
Detailed explanation-4: -Unlike a long-lasting competitive advantage, a sustainable competitive advantage is one where: competitors have tried unsuccessfully to duplicate the advantage and have, for the moment, stopped trying to duplicate it.