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Why Competitive Advantages Die
"No one has to tell you you’ve come to the right place. The look of merchandising authority is complete and unmistakable.’’ That’s how the New York Times described Sears in 1983. '‘In the markets we enter, we’ll be dominant,” said its head of retail. Few doubted it. After dominating American retail over the previous century, Sears in 1983 was pushing into banking. Few doubted it would win there, too. “On a scale of 10, not to be flip about it, I’ve got us at about 10.5,” its chairman told the Times. That wasn’t hyperbole. Sears was the largest retailer in the world housed in the tallest ... (full story)
