Question

Support or contradict this statement: "Given the realities of today's economy and the rapid changes occurring in business technology, all competitive advantages are short-lived. There is no such thing as a sustainable competitive advantage that lasts over the long term." Defend your position.

Answer 1

Answer:

I partially support the given statement  – "Given the real factors of the present economy and the fast changes happening in business innovation, every single upper hand are fleeting. There is nothing of the sort as a reasonable upper hand that keeps going over the long haul." I differ in part on economical upper hand.  

In a unique world, organizations need to receive a powerful system to keep up an upper hand in the worldwide market. Change is the main steady in the globalized business world. To get a reasonable bit of leeway, organizations need to incorporate development with their association's structure and steady advancement one alternative gives a practical upper hand. In a computerized world, interruption is happing in territories, for example, item development, supply chains, and large information. Kodak is the traditional model and was the pioneer of photography till as of late and had an upper hand. What's more, Nokia was the main maker of cell phones and unexpectedly vanished from the market. Every one of these organizations had great key arranging and had a not too bad upper hand in the commercial center. The explanation behind unexpected fall is they can't foresee the innovation interruptions in their center zones. To continue the business in this day and age, we have to foresee innovation pattern and need interests in the potential advances. Notwithstanding innovation speculations, the organization needs to support developments inside the association through connecting with the workers in steady procedure upgrades. Associations structure, impetus conspire, building administration, constant learning and adaptable working conditions are going to assume significant job in making reasonable upper hand.

Answer 2

Answer:

I support the statement – because“Given the realities of today’s economy and the rapid changes occurring in business technology, all competitive advantages are short-lived. There is no such thing as a sustainable competitive advantage that lasts over the long term.” I disagree partially on sustainable competitive advantage.

Explanation:

In an ever changing world, companies need to adopt a dynamic strategy to maintain a competitive advantage in the global market. Change is the only constant in the globalized business world. To get a sustainable advantage, companies need to build innovation into their organization's structure and constant innovation one option gives a sustainable competitive advantage. In a digital world, disruption is happing in areas such as product innovation, supply chains, and big data. Kodak is the classical example and was the leader of photography till recently and had a competitive advantage. And Nokia was the leading manufacturer of mobile phones and suddenly disappeared from the market. All these companies had good strategic planning and had a decent competitive advantage in the marketplace. The reason for sudden fall is they are unable to predict the technology disruptions in their core areas. To sustain the business in today’s world, we need to predict technology trend and need investments in the potential technologies. In addition to technology investments, the company needs to nurture innovations inside the organization through engaging the employees in constant process improvements. Organizations structure, incentive scheme, building leadership, continuous learning and flexible working conditions are going to play major role in creating sustainable competitive advantage.