Question

In hypercompetition can competitive advantage be sustained

Answer 1

In fact, firms can gain sustainable competitive advantages in hypercompetitive markets by developing organizational knowledge through strategic planning. Strategic planning provides both structure and context for developing such knowledge, a sustainable and renewable source of competitive advantage.Competitive advantage is too short-lived, this is the reason why both academics and practitioners are turning to approaches that treat firms as a value-adding entity with great synergistic potential and a unique combination of resources that generate competences.
If we live in hyper-competition, then the opportunities to beat the competition will come through creative recombination of available resources, responsiveness to market trends and a dedicated customer focus (D'Aveni 1994). Present capabilities may hold the potential to reap benefits, but the corporate culture has to be managed in such a way, that staff is encouraged to be dynamic, then dynamic capabilities ensue.