Sustained competitive advantage

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Sustained competitive advantage is maintaining what a firm does especially well, compared to rival firms – by (1) continually adapting to changes in external trends and events and internal capabilities, competencies, and resources; and (2) effectively formulating, implementing, and evaluating strategies that capitalize upon those factors.

Definition

According to the Strategic Management by David and David (15th edition),

Sustained competitive advantage. Maintaining what a firm does especially well, compared to rival firms – by (1) continually adapting to changes in external trends and events and internal capabilities, competencies, and resources; and (2) effectively formulating, implementing, and evaluating strategies that capitalize upon those factors.
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