Competitive advantage in today’s dynamic business environment has moved on enormously since the time Michael Porter (1980) devised the generic strategies. This is supported by Jay Kandampully and Ria Duddy whom state “Traditional approaches to management and marketing are an inadequate means of keeping abreast with an escalating competitive market” (Management Decision 1999). They go on further to suggest “A firm’s competitive advantage is their ability to serve customers present and future needs”.

Forward looking organisations are today exploiting new sources of competitive advantage, relationships is now seen as a key source of creating and sustaining a competitive advantage. The long-term success of a business can be argued is due to there “ability to expand and maintain a large and loyal customer base” (management decision 1999). Many Business's have recognised the importance of customer loyalty such as Tesco’s who have the ‘loyalty card’ whereby......

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Title: Are There New Sources Of Competitive Advantage In Markets, Which Are Being Exploited By Forward Looking Organisations In The 21st Century? Use Examples To Illustrate Your Answer.
Approximate Word Count: 1269
Approximate Pages: 6 (250 words per double-spaced page)

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