BUS 485 Topic 3 DQ 2

Why is sustainable competitive advantage a critical strategy-making consideration?

“Many firms strive for a competitive advantage, but few truly understand what it is or how to achieve and keep it.” (Dena Waggoner). Just another new business with the same stuff at slightly lower prices, if you think you will open a business and stay ahead with prices only that is.. Kind of like classic coke vs Pepsi, you could buy one at $1.00 and another at $1.10 but ultimately other than a different label and price they are essentially the same thing. A competitive advantage that is sustainable is different usually than price in most cases, because the competition could simply lower to match or lower more to beat the new business and having already being established have a better lead. A sustainable idea on the other hand is one that would give a lead for some time that can effectively negate or make it much more difficult for a competitor to counter, as such sustainable competitive advantages are imperative to new businesses.

Waggoner, D. (n.d.). COMPETITIVE ADVANTAGE. Retrieved June 27, 2016, from http://www.referenceforbusiness.com/management/Bun-Comp/Competitive-Advantage.html