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Explain the Relationship Between Strategic Management and Competitive Advantage for Firms

question 63

Essay

Explain the relationship between strategic management and competitive advantage for firms. How can a firm achieve sustained competitive advantage?


Definitions:

Irrationality

The act of making decisions or acting in ways that are not logical or reasonable based on available evidence or common sense.

Distorted Perceptions

Altered or skewed interpretation of reality, typically due to mental health issues or substance use.

Dysfunctional

Pertaining to the impairment or abnormal functioning of a bodily system or organ.

Ongoing Patterns

Continuous or regularly recurring behaviors, trends, or activities.

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