One of the Key Questions Posed by 21st Century Managers

question 47

Essay

One of the key questions posed by 21st 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:

Displacement

A defense mechanism where an individual redirects emotional impulses from a real object to a substitute target.

Psychological Reaction

The emotional and mental response an individual has to a particular event, situation, or stimulus.

Primary Appraisal

The initial evaluation process where an individual assesses the significance of a stressor as irrelevant, beneficial, or threatening.

Developmental Crisis

A period of intense difficulty, stress, or challenge that occurs as a person transitions through stages of growth and development.