Final answer:
Companies that invest in their employees create lasting competitive advantages. Focusing on core competencies and innovation can further elevate a company's success.
Step-by-step explanation:
According to Jeffrey Pfeffer, companies that invest in their employees will create long-lasting competitive advantages that are difficult for other companies to duplicate. This investment can manifest in several ways, such as through training, providing a positive work environment, and offering opportunities for growth and development. Cultivating a strong core competency, as emphasized by the idea that businesses focusing on a few products or services often outperform those with a wider range, is another strategy for success. Additionally, as Gregory Lee, former CEO of Samsung, suggested, an emphasis on innovation can lead to temporary competitive edges and above-normal profits.