Sustainable competitive advantage sustainable

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Sustainable Competitive Advantage: Sustainable Competitive Advantage is a state acquired by a company characterized by the ability of the company maintains above-average profitability over competitors for a long period. Research Objective The research objective of this study is to establish the strategies that firms employ to be competitive in the market place. 2.0 Research Background/Overview One of the factors that have pushed for increased competition in the market place is rapid globalization. Today, the world has changed from the case where the states often carried out themselves as independent faculties to a case where there has been the integration of the economic, social, educational, as well as trade activities of the different states and people living in them. Globalization has taken a pivot role in shaping the society where many activities have been synchronized using systems developed through technological advancement. Essentially, it can be said that, in today’s information technology world, the world has drastically been transformed into a global village, with increased interaction between states, people, as well as resources.
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COMPETITION STRATEGIES 5 Numerous scholars are arguing on the melting down of the nations states and coming up of one global state with coordinated functions. These changes have made markets more competitive than it was the case previously. Different takes on how globalization is ultimately contributing to the decline closed markets; however, one clear fact that remains is that globalization is destroying the closed market structures leading to the development of open markets that boost business (Castells, 1996) It is important to note that the term ‘Globalization’ has become the favorite catchphrase that is used by economists, and marketers across the globe. It has also grown to be a key idea that has been embraced in the business theory and practice spheres, and now has taken a centre stage of the academic debates with regard to their capacity with regard to the decline of the nation’s state. Considering ‘Globalization’ as the spread and connectedness of the technologies, processes, production, and communication of people and states across the world, it comes clear that the increased connectedness of states in these areas has led to interlacing of various cultural, social and economic activities which affects the process of conducting business. In essence, it is clear that business markets have become more competitive than before. In this light, it has become imperative that business organizations have to significantly, address the issues of competition to remain relevant in the market place. Today, many companies have picked up a number of strategies to counter competition. This is within the constraints of price, product, production, and promotional marketing factors in business.
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