Tag: competitive advantage

The Article analyses the concept of competitive advantages, creating competitive advantages, model competitive advantages. It is argued that competitive advantage is influenced by the factors such as infrastructure, the complexity of the business, labor and goods market efficiency, financial market complexity, innovation, technology, institutions of higher education and training, and macroeconomics. It is also believed that equally important for are both external as and internal factors These factors determine whether a company is able to defeat  its rivals and lead the market. Competition has its theoretical models and competitive advantage in the development of strategies as part of the targeted helps companies gain a competitive advantage over the competition. It is important to regularly monitor and examine the target competitors’ strategies to quickly respond to their actions in order to grasp how to overcome them and find themselves in the leadership position it so that to survive and conquer the market.<ClickHere>

What does it mean to compete with other firms in a business environment, what does it mean when a firm has a competitive advantage over its rivals, and what generic strategies can a firm implement to gain advantage over its rivals?<ClickHere>

Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment.<ClickHere>