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For a firm to sustain any competitive advantage over time, the fit between its internal strengths and external environment needs to be dynamic.
How can a firm maintain its advantage over rivals?
Cost Leadership, Differentiation, and Focus are the three methods for creating a competitive advantage (Cost-focus and Differentiation-focus).
Why should businesses create a long-lasting competitive advantage?
The secret to business success is maintaining a sustainable competitive advantage. It is the driving force behind a company's increased focus, increased sales, improved profit margins, and stronger customer and employee retention than rivals.
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