Use SWOT Analysis to Maintain Competitive Advantage
In the process of maintaining competitive advantage, enterprises must deeply understand their own resources and capabilities, and take appropriate measures. Because once a company has a competitive advantage in a certain field, it will inevitably attract the attention of competitors.
Generally speaking, after a period of efforts, enterprises have established a certain competitive advantage. While the company maintains this competitive advantage, its competitors begin to respond gradually. Then, if competitors directly attack the business advantage or adopt other stronger strategies, this advantage will be weakened.
There are three key factors that affect the duration of competitive advantage:
how long does it take to establish this advantage?
how much advantage can be obtained? ·
How long does it take for competitors to respond forcefully?
If enterprises analyze these three factors clearly in SWOT analysis, they will know their position in establishing and maintaining competitive advantage.
