To achieve a competitive advantage, a company must excel in all of the building blocks of competitive advantage-efficiency, quality, innovation, and responsiveness to customers.

Question

Quizplus · Accepted Answer

While excelling in all of these building blocks can certainly lead to a competitive advantage, a company may not necessarily need to excel in all of them to achieve a competitive advantage. It depends on the industry and specific market factors. For example, a company in a mature industry may focus more on efficiency and quality, while a company in a rapidly changing industry may prioritize innovation and responsiveness.

To Achieve a Competitive Advantage, a Company Must Excel in All