A firm can create competitive advantage by responding better than rivals to changes in its environment or by maintaining strategic differences from its rivals that customers accept

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This is a widely recognized concept in strategic management known as the "Resource-Based View" of the firm. By leveraging their unique resources, capabilities, and competencies, firms can gain a sustainable competitive advantage over their rivals. This can be achieved by being more responsive to environmental changes or by creating a strategic position that is difficult for rivals to replicate.

A Firm Can Create Competitive Advantage by Responding Better Than