A
firm has a competitive advantage when it implements a strategy
competitors are unable to duplicate or find too costly to try to
imitate. An organization can be confident that its strategy has resulted
in one or more useful competitive advantages only after competitors’
efforts to duplicate its strategy have ceased or failed. In addition, 
firms
must understand that no competitive advantage is permanent. The speed
with which competitors are able to acquire the skills needed to
duplicate the benefits of a firm’s value creating strategy determines
how long
firms
must understand that no competitive advantage is permanent. The speed
with which competitors are able to acquire the skills needed to
duplicate the benefits of a firm’s value creating strategy determines
how long 
.jpg)
