11 Facts About Competitive advantage


In business, a competitive advantage is the attribute that allows an organization to outperform its competitors.

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Term competitive advantage refers to the ability gained through attributes and resources to perform at a higher level than others in the same industry or market.

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The study of this advantage has attracted profound research interest due to contemporary issues regarding superior performance levels of firms in today's competitive market.

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Competitive advantage is the leverage a business has over its competitors.

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Cost advantage is when a business provides the same products and services as its competitors, albeit at a lesser cost.

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Differentiation Competitive advantage is when a business provides better products and services as its competitors.

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Competitive advantage seeks to address some of the criticisms of comparative advantage.

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Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy.

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Competitive advantage can add value to the customer via transfer of the cost benefit to them.

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Differential Competitive advantage is gained when a business's products or services are different from its competitors.

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Firms with a knowledge-based core competency can increase their Competitive advantage by learning from "contingent workers" such as technical experts, consultants, or temporary employees.

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