Establishing a competitive advantage is important but insufficient. To be successful in the long term, firms must maintain that advantage.

Question

Quizplus · Accepted Answer

Establishing a competitive advantage is only the first step towards success. To sustain success in the long term, firms must continue to maintain and strengthen their advantage. Otherwise, competitors can catch up and erode the advantage, leading to a decline in performance and market position.

Establishing a Competitive Advantage Is Important but Insufficient