Is it possible to sustain lasting competitive advantage through technological advancements? Or might the window for the new technology be so small that it makes no sense to try to maintain a technology leadership position?© BrainMass Inc. brainmass.com October 1, 2020, 7:49 pm ad1c9bdddf
Yes it is possible to sustain the lasting competitive advantage through technological advancements. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. Thus competitive advantage theory propounds of having those capabilities which leads the organization to achieve unique position in the industry. Porter's notion of competitive advantage states that the resources and capabilities of an organization can be a source of competitive advantage if they process certain characteristics of being rare, durable and difficult to imitate, flexible and durable. Thus Strategic objectives should be formulated to build and sustain competitive advantage for the organization:
? Company needs to ask itself the following questions:
o What are our core competencies?
o Are our processes creating value?
o What are our ...
How it is possible to sustain lasting competitive advantage through technological advancements is analyzed. How to maintain a technology leadership position are determined.