ABSTRACT
How is it that some firms can perform so well, while others struggle and sometimes fail? What is it about a firm that allows it to thrive, despite ongoing challenges from its competitors and ever increasing demands from its customers? For example, consider Southwest Airlines, a familiar firm whose story of success has been well
chronicled. How has Southwest been able to profit consistently over the past 20 years, while so many other firms in its industry have gone bankrupt, been acquired, or continue to operate at a loss? Or consider Coca-Cola, another wellknown firm that is frequently cited for its lasting success. What has enabled Coke to grow so valuable, despite persistent efforts by competitors and substitutes to imitate its products and lure away its customers?
