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Building a Sustainable Competitive Advantage: Reflecting on Your Business Strengths
Manage episode 423311216 series 3579522
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In this insightful episode of The Business Babble, hosts Michael, Johnny, and Wicus delve into the concept of sustainable competitive advantage and the importance of self-assessment for businesses. They discuss the critical practice of holding a mirror up to your business to identify strengths, areas for improvement, opportunities, and threats. Learn how to establish points of differentiation that truly set you apart in the market.
The hosts share personal anecdotes and practical tips on systemising processes, adapting to external threats, and continuously evolving to stay competitive. They also emphasise the value of customer feedback in refining your business approach. Tune in to discover how to craft a unique selling proposition that can't be easily replicated and gain insights into future-proofing your business.
Prepare for the next episode, where the discussion will focus on understanding external risks through a PESTLE analysis, helping you navigate potential challenges in the broader business environment.
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