So what is competitive advantage? : We know we need it but not how to define it

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – If they are to have any chance of thriving in today's turbulent and increasingly‐competitive world, businesses need competitive advantage and how they get it is a crucial component of managements' approach. Apologies if that sounds like stating the obvious, but it's important enough to bear repetition. Less obvious is how to answer the question: “What is competitive advantage?” Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.