MGT 488 Week 1-DQ3
What are the components that comprise a sustainable competitive advantage for a firm?
Four components comprise a sustainable competitive advantage. According to Hitt, Ireland, & Hoskisson (2009), the criteria is as follows:
Valuable: allow the firm to exploit opportunities or neutralize threats in its external environment
Rare: capabilities that few, if any,competitors possess
Costly to imitate: capabilities that other firms cannot easily develop.
Nonsubstitutable: capabilities that do not have strategic equivalents (p. 82).
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