One of the Key Questions Posed by 21^st Century Managers

question 29

Essay

One of the key questions posed by 21^st century managers is "How can we possibly compete when everyone can copy our technology and the competition is a click away?" One path to take involves creating a resource or set of resources for sustainable competitive advantage. List the four characteristics that such resources must have for the possibility of sustainable competitive advantage to exist. Why is it important to have all four simultaneously?

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Definitions:

Calm and Stable

Describing a situation, environment, or personality that is characterized by tranquility, predictability, and low volatility.

Normative Decision Model

A leadership theory that provides a framework to determine the best leadership style based on the situational context and decision-making involvement of leaders and followers.

Demonstrates

To show or prove something clearly through examples or actions.

Consulting

The professional practice of providing expert advice and guidance in a specific area to businesses, organizations, or individuals.