Final answer:
Top performing companies are set apart by their core competencies, which act as a competitive advantage, similar to a monopoly, where less competition means greater success.
Step-by-step explanation:
According to Professor Jeffrey Pfeffer, a core competency is what separates top performing companies from their competitors. Core competencies are a source of competitive advantage and can help companies achieve higher profits by focusing on what they do best, rather than diluting their efforts across a wide range of products. This concept is akin to the notion of a monopoly, where having less competition in a specific area allows a business to flourish. Contrary to the belief that executives champion market competition, they tend to prefer scenarios where their companies face little to no competition.