Chapter 10 Innovation and Competitive Advantage
In the previous chapter, competitive advantage was briefly mentioned. It was stated that for strategists, regardless of industry, organizational size, or economic climate, achieving competitive advantage is the chief objective of development and deployment of business. To give a definition, competitive advantage is any circumstance that puts one firm in a more favorable position than its competitors. And for this reason, it’s important to understand how organizations who tactfully employ the Lean Innovation Cycle in congruence with the internal and external dynamics discussed in the previous chapter can achieve competitive advantage.
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