Question:
Stakeholder analysis involves identifying any entity with an interest in the firm, what it wants from the firm, and what claims it can make on the firm. To analyze the internal environment, firms often begin by identifying the strengths and weaknesses of each activity in the value chain. Firms can then identify which strengths have the potential to be a source of sustainable competitive advantage.
Respond to the following:
What is the difference between strengths, competitive advantage, and sustainable competitive advantage?
Give examples in your answer.