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How do you establish a competitive advantage?

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Open access•Journal Article•DOI Innovation capability of SMEs through entrepreneurship, marketing capability, relational capital and empowerment Heru Sulistyo, Siyamtinah - Show less +1 more 01 Dec 2016-Asia-Pacific Management Review 140 Citations	Performance significantly and positively influences the competitive advantage.
Book Chapter•DOI Improvement of Productivity and Employee Performance Through an Efficient Human Resource Management Practices L. Ngwenya, Clinton Aigbavboa - Show less +1 more 01 Jan 2017 16 Citations	Thus, obtaining and sustaining competitive advantage.
Journal Article•DOI Environmental Innovations as a Source of Competitive Advantage or Vice Versa Helena Forsman 01 Jul 2013-Business Strategy and The Environment 90 Citations	Second, this study demonstrates how the competitive advantage was enhanced along the successful innovation process.
Journal Article•DOI Constructing useful models of firms' heterogeneities in implemented strategies and performance outcomes Esteban Brenes, Luciano Ciravegna, Luciano Ciravegna, Arch G. Woodside - Show less +3 more 01 Apr 2017-Industrial Marketing Management 38 Citations	Complex competitive advantage conditions contribute indirectly to high performance outcomes.
Journal Article•DOI Competitive advantage: the known unknown concept Christos Sigalas 22 Oct 2015-Management Decision 67 Citations	Research limitations/implications – The findings establish the hypothesis that senior managers are not aware of the concept of competitive advantage.
Journal Article•DOI Networks, capabilities, and competitive advantage Nicolai J. Foss 01 Mar 1999-Scandinavian Journal of Management 214 Citations	This suggests a more satisfactory underpinning for the analysis of competitive advantage within the network approach.
Journal Article•DOI Empirical investigation of relationship patterns between competitive advantage and superior performance Christos Sigalas, Vassilis M. Papadakis - Show less +1 more 23 Feb 2018-Journal of Strategy and Management 29 Citations	In addition, this study provides empirical evidence of the reasons, underpinning the relationship pattern of competitive advantage without superior performance as well as the relationship pattern of superior performance without competitive advantage.
Open access•Journal Article•DOI Causation, counterfactuals and competitive advantage Rodolphe Durand, Eero Vaara - Show less +1 more 01 Dec 2009-Strategic Management Journal 173 Citations	We also show that these methodologies open up new avenues in research on competitive advantage.
Open access•Journal Article•DOI Towards a Stakeholder Perspective on Competitive Advantage Minyu Wu 18 Jan 2013-The International Journal of Business and Management 7 Citations	This framework provides insight to an incomplete picture of competitive advantage in the extant literature.

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How to create competitive advantage?4 answersCreating competitive advantage involves several key factors. Firstly, organizations need to focus on knowledge and innovation-driven approaches, where the capacity of individuals to create and modify processes is crucial. Secondly, access to valuable resources such as natural resources, skilled labor, and new technology can provide a competitive edge. Additionally, talent development and leadership play a significant role in attaining competitive advantage. Furthermore, strategic alliances can enhance competitiveness by creating unique and valuable products. By integrating these factors into their strategic plans, organizations can identify the path to achieving their objectives and promoting competitive advantage. To summarize, creating competitive advantage involves leveraging knowledge and innovation, accessing valuable resources, developing talent and leadership, and forming strategic alliances.

What is competitive advantage?5 answersA competitive advantage is an attribute that allows an organization to outperform its competitors. It can include access to natural resources, highly skilled labor, geographic location, high entry barriers, and access to new technology. Achieving a competitive advantage means providing a better solution or offering a similar solution at a lower price. Michael E. Porter differentiated two basic types of competitive advantage: cost strategy and differentiation strategy. In a competitive environment, a firm's competitive advantage is determined by the part of its offer that allows for maximum efficiency and economic success. Competitive advantage is the entity's ability to develop effectively for long-term value that exceeds competitors and achieve above-average profitability. It can be measured and characterized by several parameters, and competition theory can be applied at different levels of economic systems. The response to changes in competitiveness will vary based on available resources.

How can companies maintain a competitive advantage?3 answersCompanies 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.

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