Reflecting on one of the following competitive sets, how much longer do you think the leading company can sustain its competitive advantage? What specific actions could allow the leader to extend their advantage?

Competitive advantage | Business & Finance homework help

It is crucial to think about how long a company can maintain its competitive advantage in an industry. It will be affected by market conditions and strategies of competitors, as well as the available resources. A company that invests in a novel technology but is not being adopted by competitors could have an unexpected advantage. However, this advantage may be eroded if they are out-innovated by their competitors.

To maintain and even increase their competitive advantage companies must focus on innovating continuously while keeping up with industry trends. It is important to think strategically about the areas where resources are allocated. This will ensure that they only use them in those key growth drivers and succeed. In order to build trust and protect themselves against any potential disruptive forces entering the market, it is important that they invest in good relationships with their customers or partners.

Although it is difficult to stay ahead of your competition, businesses can increase their position in any market by making smart investments and careful planning.

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