Firm Competitive Advantage Through Relationship Management

The notion of competitive advantage reveals a wide variety of approaches
in measurement and application (Buckley et al. 1988). A general defnition
of competitiveness, "the above industry average manifested exploitation of
market opportunities and neutralization of competitive threats" (Sigalas
2013, p. 324), indicates that it is a relative phenomenon. In order to fully
assess whether a company possesses a competitive advantage, it has to be
compared to its rivals (Peteraf and Barney 2003). As, because of practical
reasons, the verifcation of competitive advantage takes place predominately
in the market, the notion of business performance and its (usually) fnancial
measures arises. However, the potential to generate positive business
results cannot, in the longer run, be detached from the individual situation
of the frm.
[2021]

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