How can a firm sustain its competitive advantage? Illustrate your answer with real-life examples.

The sustainability of a competitive advantage is a function of three factors:

1.The obsolescence of a core competences a result of environmental changes.

2.The availability of substitutes for the core competence

3.The imitability of the core competence

To maintain a competitive advantage, firms must manage current core competencies while

simultaneously developing new competencies.