Theories of competitive advantage
Watch the video and then summarise what you have learned.
Competitive advantage is the basis for superior performance and can be obtained when an organisation develops or acquires a set of attributes or executes actions that allow it to outperform its competitors. In other words, a competitive advantage allows firms to enhance their profits while enhancing the value for their customers.
This scenario can occur because the firm is able to deliver the same benefits as competitors but at a lower advantage total cost, or delivers benefits that exceed the competitors’ products.
Reach your personal and professional goals
Unlock access to hundreds of expert online courses and degrees from top universities and educators to gain accredited qualifications and professional CV-building certificates.
Join over 18 million learners to launch, switch or build upon your career, all at your own pace, across a wide range of topic areas.
