This presentation explores the fundamental question of how firms achieve and sustain competitive advantage. To do this, it examines three existing paradigms in the field: the competitive forces approach, the strategic conflict approach, and the resource-based perspective. It also introduces the dynamic capabilities approach, an emerging new paradigm that aims to explain how firms can adapt and change in response to their environment.
This presentation aims to provide a deeper understanding of how firms can achieve and maintain a competitive edge in today's business world:
- The fundamental question in strategic management and how it relates to competitive advantage
- The three existing paradigms in the field: competitive forces, strategic conflict, and resource-based perspective
- An overview of the emerging dynamic capabilities approach
- How firms can adapt and change in response to their environment
- Insights on how firms can achieve and sustain competitive advantage in today's business world
