Question: 1.Define competitive advantage. Define Sustainable Competitive Advantage. How does this relate to recruiting and retaining customers 2. Define competencies and capabilities. How does this relate
1.Define competitive advantage. Define Sustainable Competitive Advantage. How does this relate to recruiting and retaining customers
2. Define competencies and capabilities. How does this relate to recruiting and retaining customers
3. How arecapabilitiesrelated to resources and competencies(how to capabilities impact the creation of and or loss of resources and competencies)?
can you fix this essay for me regarding this feedback
"Paragraph with less than four (4) sentences are nto paragraphs. Did you answer all parts of the question"
here's the essay down below
Competitive advantage is the strength of an organization, and what makes it unique and differentfrom other organizations are resources, products, or services that competitors can't competewith.Sustainable competitive advantage is the ability of an organization to maintain its competitiveadvantage over time. It can be achieved in many ways, by having superior products or services,having excellent marketing, and advertising campaigns, having prominent distribution channels,having outstanding management skills, etc. organizations need to have a competitive advantagethat they can't just rely on their current customer base if they want to grow. Instead, they have tobe able to expand their customer base while still keeping those customers happy, which meansproviding them with quality services at an affordable price. For an organization to succeed in thisarea, it must have access to resources and provide services at an affordable price to itscompetitors. It also needs marketing strategies to reach as many potential customers as possibleand provide its services at a reasonable cost.Competencies refer to the knowledge that an employee can contribute to theorganization's skills and personal attributes. In contrast, capabilities refer to a person's naturalability to perform a task or job.Competencies are an organization's ability to transform inputs into outputs to create customervalue. For example, an organization might have the resources necessary to offer a unique servicebut not have the competencies needed to provide them in a way that creates value for customersor is difficult for competitors to imitate. In this case, they will only be able to competeeffectively against organizations with better resources or more competent workers than they do.
Capabilities are the ability to expand those competencies in a complex way for competitors toimitate. If a company has a competitive advantage in one or more of these areas, it will be betterable to retain customers and attract new ones.
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