How can companies maintain a competitive advantage?
Companies can maintain a competitive advantage by focusing on their entrepreneurial competencies and strategic assets . Entrepreneurial competencies play a crucial role in determining competitive advantage, and companies should identify and leverage their competencies to differentiate themselves from competitors . Strategic assets, which are intangible and hard to replicate, are key to creating and sustaining competitive advantage . However, these assets are often not reflected in financial statements, so companies should provide additional information about their strategic assets in their earnings conference calls and annual reports . Additionally, companies can enhance their competitive advantage through innovativeness and the development of new products, technologies, and business models . Organizational resilience and learning also contribute to sustained competitive advantage, with environmental dynamics playing a moderating role . By focusing on these factors, companies can maintain their competitive advantage in a dynamic and competitive market .
Answers from top 3 papers
Papers (3) | Insight |
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Open access•Posted Content | Companies can maintain a competitive advantage by continually analyzing their competitors, choosing the right strategy, and utilizing their unique resources and capabilities. |
01 Jan 2020 2 Citations | Companies can maintain a competitive advantage by focusing on factors such as innovation capability, learning capability, management capability, marketing capability, relational capability, and technological capabilities. |
12 Citations | Companies can maintain a competitive advantage by developing and utilizing strategic value-creating assets that are intangible, rare, and difficult to replicate. |