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Assignment 1 - Several Scholars argue that the sustainability of competitive advantage is really a myth in this highly chaotic environment To sustain competitive advantage a firms structure systems and resources need to be continuously adaptive to the changing external environment Using real life examples and critically evaluating various competitive advantage theories how can companies develop and sustain competitive advantage in this turbulent environment Use real life examples to support your arguments Noteworthy quotations in context of assignment Profitability is a necessary condition for existence and a means to more important ends but it is not the end in itself for many visionary companies Profit is like oxygen food water and blood for the body they are not the point of life but without them there is no life James C Collins Built To Last 1994 The key to investing is not assessing how much an industry is going to affect society or how much it will grow but rather determining the competitive advantage of any given company and above all the durability of that advantage Warren Buffett 1999 Competitive advantage is to be found in managements ability to consolidate technology and production skills into competencies which empower the business to adapt quickly to changing opportunities Prahalad and Hamel 1990 Profit is the only true sustainable competitive advantage as without profit there is no business to sustain Porter 1985 Introduction To assess whether competitive advantage is sustainable in todays business environments I believe we must first frame a definition with which to base our analysis Michael Porter has described competitive advantage as a profitable and sustainable position against the forces that determine industry competition In simple terms it is gaining an advantage over competitors by offering consumers greater value either by lower prices or by providing greater benefits and service that justifies higher prices Model for competitive advantage Adapted from wwwquickmbacom Jay Barney extends this definition to determine that a
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