The key to achieving competitiveness, earning above-average returns, and remaining ahead of competitors in the long run is to manage current core competencies: a. in a way that uniquely bundles and leverages the firm's existing resources. b. while simultaneously developing new ones.c. imitate the core competencies of successful competitors. d. in order to preserve and enhance them against the firm's competitors.

One of the basic characteristics of successful business management is "nothing is eternal". Core competencies can swiftly become core rigidities. As new technologies advance, products or services are turning obsolete faster. If a company wants to survive it must continuously develop new core competencies.

Today, 9-27-2019, Google turns 21 years old. When Google was "born", a company called Yahoo was huge, Sony Ericsson was the largest cellphone manufacturer in the world (before that Motorola and after them Nokia) and GM was the king of the road. If you try hard enough you will probably remember that Yahoo, Nokia, Sony Ericsson (now only Sony) and Motorola (sold and resold so many times) existed. GM is no longer the absolute world leader in car manufacturing, it has gone bankrupt (and saved by the government) and again is currently struggling to survive. All these companies were HUGE and became obsolete in just 4-5 years.

This process took longer before, Kodak survived manufacturing basically the same products for more than 100 years before becoming obsolete.