I listened to this HBR ‘ideacast’ today, and you can too by following the link below, but I would summarize it thus:
To have enduring competitive advantage, you need to have simple repeatable models. Research has shown that executives identify complexity as a barrier to growth, leading to the killer quote at the top of this post “complexity is the silent killer of profitable growth”
There are 3 design principles which result in businesses having 5-6 times longer duration of competitive advantage:
- The presence of an extremely clear form of differentiation – a uniqueness amongst your competitors which jumps out and hits you. It has to be obvious that you are different and better.
- The absolute ability to hardwire 4-5 key threads of strategy into non negotiable beliefs, strategies which everyone in the organization can understand and articulate.
- Feedback loops and systems for continuous learning and improvement (around those key threads), Turn continuous improvement into competitive advantage.
Good Strategy’s Non-Negotiables – HBR IdeaCast – Harvard Business Review.
Technology, Society, Work & Play 
Great summary. Number 3 is often the hardest one to get business owners or executives to see value in. If you can teach your employees to continuously seek self-developement (and overall company development/innovation) you will hold an edge over the competition. I have worked with companies who took a leap of faith and gave each employee an afternoon off during the week for professional development. I was surprised at how many individuals took it seriously and participated as they were expected to. Give it a shot or develop other creative programs, but either way continue to seek improvement. If you don’t than your competition will eat you alive with their innovations!