Every company has its own tangible assets (financial and physical assets, etc.) and intangible assets (trademarks, customer relationships, employees, etc.). In the past, tangible assets were the main source of competitive advantage, but they are increasingly unable to reflect their particularity or special advantages that distinguish them from others. Smooth and multi-level financing channels such as debt financing, equity financing, can no longer give a company any competitive advantage, nor can it distinguish it from competitors. The same happens with technological means and tools. The company that adopts the new technology first has a competitive advantage that can last for several years, but now, the advantage brought by the new technology is fleeting, and the technology of one company can be easily obtained by other companies, imitation or surpassing, which makes technology no longer an advantage, but gradually becomes a necessity, such examples are too numerous to mention. At the same time, increased competition is causing things that were previously unimaginable: small companies competing with large companies, and new companies competing with established companies.

Wentao Liu. The Last “Green Field” of Enterprise's Competitive Advantages: A Discussion on Human Capital and Human Resource Management. Academic Journal of Business & Management (2023) Vol. 5, Issue 12: 82-87. https://doi.org/10.25236/AJBM.2023.051213.

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