Firms are continually trying to erode the competitive advantage of rivals, and to build and maintain their own competitive advantage.

Question

Quizplus · Accepted Answer

This is true. Businesses strive to stay ahead in the market by taking steps to beat their competitors, to respond to changing market circumstances, and to maintain ahead of new entrants. This process of striving for competitive advantage is a constant one, with businesses continually looking for ways to improve their products, services, production processes, and brand image in order to maintain an edge in the market.

Firms Are Continually Trying to Erode the Competitive Advantage of Rivals