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This week's topic is: VRIO Framework
Vocabulary:
competitive advantage: (noun) a condition or circumstance that puts a company in a favourable or superior business position
competitive parity: (noun) to spending at par with your competitors, whereas in competitive advantage we spend to outperform our competitors
first-mover advantage: (noun) A first-mover advantage can be simply defined as a firm's ability to be better off than its competitors as a result of being first to market in a new product category
short-lived: (adj.) to last for only a short time.
