ACCA SBL Syllabus C. Strategy - Capabilities required to sustain competitive advantage - Notes ^{3 / 6}

Competitive advantage

1. Creates value that customers are willing to pay more for

2. Creates same value as competitor but at lower cost

Capabilities

The co-ordinating of resources and competencies to create competitive advantage. They are unique to each business

Dynamic capabilities

Create new capabilities by adapting and innovating