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The paradox of competitive advantage
Author(s) -
Winfrey Frank L.,
Michalisin Michael D.,
Acar William
Publication year - 1996
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/(sici)1099-1697(199607)5:4<199::aid-jsc212>3.0.co;2-6
Subject(s) - competitive advantage , exploit , flexibility (engineering) , industrial organization , business , position (finance) , asset (computer security) , strategic fit , resource based view , strategic management , marketing , economics , management , computer science , finance , computer security
Sustained competitive advantage in a turbulent environment requires the simultaneous achievement of strategic fit and strategic flexibility. Attaining competitive advantage is affected by the firm's competitive arena, its position within the arena, and the firm's array of resources. A strategic asset neutralizes a threat or allows the firm to exploit an opportunity. A firm can create strategic, specialized assets by configuring in bundles, appropriate elements of unspecialized resources.