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I summarized McKinsey's 10 sources of competitive advantage in one image and included some examples that I think fit the description (list is not exhaustive, of course)

Can you think of any more examples?

High quality typically remains high quality and low quality typically remains low quality.

The gap is further amplified as time goes by. High quality companies have proven to be even higher quality long term while low quality company have proven that improving their quality is not an easy task.

Remember that you don't have to bet on a turnaround to make money.

If you ever wondered what drives Total Shareholder Returns (TSR), here it is.

Important to know what is and what isn't under management's control!

I found the following graph pretty interesting. It shows how value creation differs across growth sources (for a typical consumer packaged goods company)

The main takeaway is that organic growth is a great place to invest in, while acquisitions tend to be the worst.

The rationale is straightforward: you don't need much capital upfront to launch a new product, while you need to pay the acquisition's price in full upfront. The former can be turned down if not profitable, but you can't simply roll back the latter.