A dynamically evolving portfolio of resources and capabilities is essential for a company to

A dynamically evolving portfolio of resources and capabilities is crucial for a company to sustain competitiveness and enhance performance because it enables the organization to adapt to changing market conditions and consumer preferences. As industries and technologies evolve, businesses must continuously assess and upgrade their resources—be it human, financial, technological, or material. This ongoing adaptation helps ensure that the company can not only respond to challenges but also seize new opportunities for growth and innovation.

By having a robust resource and capability framework, a company can differentiate itself from competitors, maintain relevance, and develop strategic advantages that contribute positively to its overall performance. It allows the organization to pivot when needed, implement new strategies effectively, and respond to competitive pressures, ensuring longevity and success in the marketplace.