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Consider two vectors
And
Shown in the figure.The difference
-
Is best illustrated by
Sustainable Competitive Advantage
A long-term edge over competitors, achieved through unique resources, capabilities, or strategies that are difficult to replicate.
Generic Model
A Generic Model is a simplified representation of something complex, designed to provide a basic or universal explanation without delving into specific details, applicable across different scenarios or contexts.
Iterative Trial-And-Error
A problem-solving approach that involves repeated experiments or attempts, learning from mistakes, and refining strategies based on feedback.
Diagnosing A Problem
The process of identifying and understanding the underlying causes of an issue within an organization to determine appropriate solutions.
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