An organization has a sustainable competitive advantage when, for an extended period, it can ______.
produce goods and services more effectively than its competitors do
An organization has a sustainable competitive advantage when, for an extended period, it can outperform its competitors consistently in terms of profitability, market share, customer loyalty, brand recognition, or another critical metric.
A sustainable competitive advantage is a unique advantage that a business has over its competitors that allow it to sustain superior performance over a prolonged period. This advantage can be achieved in various ways, such as developing unique products or services, exploiting niche markets, owning proprietary technology or patents, having efficient supply chains, creating strong customer relationships, and being able to leverage economies of scale.
To maintain the competitive advantage, the organization has to continually improve, innovate, and respond to changes in the market or environment. In addition, the company should invest in the development of its human resources, cultivate a strong organizational culture, and maintain effective communication with its customers and stakeholders.
Overall, a sustainable competitive advantage is crucial for an organization’s long-term success and survival in a highly competitive market.
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