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Long-term business success involves creating, managing and exploiting assets and skills that competitors find difficult to match or counter. Developing this advantage is a continuing process, not a fixed event. Here are few tips to help you develop competitive advantage and build barriers to entry. The top management team leading your company must develop a vision for the organization; obtain employee commitment to achieving that vision; and build effective relationships with key stakeholders (e.g., partners, customers and suppliers). At the same time, management must be a catalyst for change.
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