A firm will fail to create a sustained competitive advantage when the?

0
8
achievement, across, advantage @ Pixabay

A firm will fail to create a sustained competitive advantage when the company does not have a strong core competency. This is due to outside competition, which can easily replicate what you are doing.

If your business has more than one way to compete in the marketplace, then it’s unlikely that you’ll be able to sustain your position as an industry leader.

silhouette, success, businessman @ Pixabay

Having many different ways of competing helps keep customers from being loyal only to one thing, and keeps them coming back for more!

KEY TO SUCCESS

The key is identifying where you excel relative to others (or at least match up against) and focusing on those things while staying ahead or comparable with other areas like price points or customer service options.

The idea is this: if I’m good enough instead of being great at everything, I’ll be really good as a result of being great in one thing. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here