The principles of operational effectiveness and strategic positioning are deceptively simple. But while Porter claims strategy is "fundamentally about being different," how can you recognize whether your firm's differences are special enough to yield a sustainable competitive advantage?

An approach known as the resource-based view of competitive advantage is the idea if a firm is to maintain sustainable competitive advantage, it must control a set of exploitable resources that have four critical characteristics.

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The four critical characteristics of exploitable resources under the resourcebased view of competitive advantage are 1 Valuable The resources must add ... View the full answer