The Desages And Disadvantages Of Competitive Advantage

Competitive Advantages: Competitive advantages are conditions that allow a company or country to produce a good or service at a lower price or in a more desirable fashion for customers. It provides an edge over rivals and an ability to generate greater value for a firm and its shareholders. The more sustainable the competitive advantage, the more difficult it is for competitors to neutralize the advantage. The two main types of competitive advantages are comparative advantage and differential advantage.

Outsourcing is an important strategy that can help the company to operate the performance better in the core business, which international expansion can make the company revenues come

When a company succeeds in creating more value for customers than its competitors, that company is said to enjoy competitive advantage in an industry. A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage) or deliver benefits that go over those of competing products (differentiation advantage). Therefore, a competitive advantage allows the firm to create superior value for its customers and profits for itself.

As previously stated, it is difficult to pinpoint a competitive advantage due to of the hyper competitive environment. Our strengths of the program are matched or exceeded by competitors. The areas we could potentially capitalize on are our academic rigor, our passionate staff in Southeast Online and the nursing department who provide excellent customer service, and the prevalence of nursing courses being taught by tenure track faculty. However, we aren’t the only program that has passionate staff, that teaches using tenured faculty, and are academically rigorous. The only way to provide leverage is if we are able to be the best in one of these area’s compared to our top regional competitors due to of the preference to attend within 100 miles from home. With all of our weaknesses and strengths identified, and considering that our students ranked helpfulness of staff higher than quality of the program, customer intimacy is our best chance of differentiating ourselves.

Competitive advantage allows a company to grow and sustain its sales but still retain more customers than its rivals. (Perreault/ Cannon/McCarthy, 2009, p48) defines competitive advantage as ‘’ A firm that has a marketing mix that the target market sees as better that a competitors mix’’. A company achieves a completive advantage when it provides buyers with superior value compared to rival seller’s offers the same value at a lower cost to the firm, this is according to (Thompson/Peteraf/Gamble / Strickland, 2014, p 7)

Competitive advantage can be defined as the best performance compare to the other competitors in the same industry world. In other words it is anything that the company does the best compare to others. The best examples of competitive advantage are greater profit margin, higher return to assets, and so on.

A competitive advantage is an advantage over other competitors in the market by being the

Describe your company’s business strategy and competitive advantage. Building on your initial work, choose an expatriate position you consider critical for the success of the new subsidiary, considering your company’s business strategy and competitive advantage. The description of your company, its business strategy, the location of the foreign subsidiary and the expatriate position forms the first part of your coursework.

A competitive advantage is what differentiate you from the competitors in the eyes of your customers. Whether you are an employee, a business or a country, you need to have an adequate competitive advantage and deliver it to your customers. Before you can set your competitive advantage, you had to find out these three imperatives(Aaker, D. 1989):

With a competitive advantage you are able to excel within the industry, but to do so one needs to be able to understand how to go about getting that idea advantage. There are ways that aid a business in reaching the levels of success. With the competitive analysis you have five areas that have to be analyzed in order to be competitive.

venture that is sustainable and successful over the long term. This fact sheet looks at what

One of the greatest artist Pablo Picasso once said, “Action is the foundational key to success”. Well, we all agree with this quote, but there are many variety of factors that also implies in aspect of life. In the field of business, one of the key elements that ultimately controls the destiny of an organization, is their competitive advantage in a particular industry. The competitive advantage is defined as “an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices”("Competitive Advantage | Business."). In order to deeper understand of competitive advantage in a firm, I chose to read the book “Competitive Advantage

Competitive Advantage (p.4) – An advantage that a bank, or any company, has over its competitors is that firm’s competitive advantage. This advantage may allow it generate more sales revenue, increase its profit margins, or deliver better customer service. Whatever the advantage, it is what makes it better (the advantage) than its competitors.

We all think of those same huge global corporations that have been successful for years. Such as, Coca-Cola, Walmart, Google, IKEA, Samsung, etc. But what makes those companies successful around the globe? A global success is not created by one single element; many things are in play when a company is known all over the world. The main points that will be focused on are the competitive advantage a company has, the company style, the management, and adaptability. In this paper IKEA, McDonalds, Starbucks, and (insert other company’s I may use throughout the paper) will be used as examples of how corporations employs these strategies.

As we move from the information age into what Simson, Downe, and Ahmad (2011) call the knowledge age, knowledge is power. Ideally, the power lies with the organizations that are able to leverage knowledge for competitive advantage (Okorafor, 2014). More often than not, however, the power lies with the individual who possess the knowledge; often, that individual develops a sense of knowledge ownership which influences knowledge behaviors (Husted & Michailova, 2002; Peng, 2013; Wang & Noe, 2010). According to Nonaka (1991, p 96), “[i]n an economy where the only certainty is uncertainty, the one source of lasting competitive advantage is knowledge.” The inevitable retirement of the more than 67 million eligible individuals and subsequent loss of employee knowledge, experience, and skills may signify a considerable loss of competitive advantage for organizations (Appelbaum et al., 2012). In an effort to leverage knowledge for competitive advantage, organizations must focus on recruiting new personnel with desirable knowledge skills or abilities and on implementing knowledge management systems (KMS) which capture, share, and use existing individual knowledge.