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In "New Bases of Competitive Advantage," the authors argued that increased turbulence in the business environment has invalidated an implicit and critical assumption of classical business strategy: that competition is sufficiently stable and predictable for the basis of competitive advantage to be readily determined. Traditional approaches to strategic planning become futile in a world in which the key variables are constantly shifting and difficult to forecast. They can distinguish three important dimensions of turbulence: volatility in market positions, unpredictability of outcomes, and the widening gap in performance between winners and losers.
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