Competitive Advantage- A firm has this advantage when it implements a strategy that creates superior value for customers exclusive to the competition because they cannot duplicate or its too costly to imitate…
A competitive advantage can be described as condition or a factor that enables an organization to offer real or perceived value better than its competitors. (Porter 2008) The first major strength is its product differentiation, the food chain focuses on organic foods by ensuring that its meat is naturally raised and the ingredients are organic. This is in line with current trends where customers are more aware and advocating for healthy foods.…
4. A competitive advantage is some unique aspect of a firm’s offering, or of the firm itself, that causes target customers to patronize the firm rather than its competition. TRUE…
Competitive advantage: is 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 occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high grade ores or inexpensive power, or access to highly trained and skilled personnel human resources. New technologies such as robotics and information technology can provide competitive advantage, whether as a part of the product itself, as an advantage to the making of the product, or as a competitive aid in the business…
To survive and thrive, an organization must create a competitive advantage. A competitive advantage is a product or service that an organization’s customers place a greater value on than similar offerings from a competitor. Unfortunately, competitive advantages are typically temporary because competitors often seek ways to duplicate the competitive advantage. In turn, organizations must develop a strategy based on a new competitive advantage.…
A competitive advantage is gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and services that justify higher prices (Burke & Jarratt, 2004, p.130).…
I will share ways to a competitive advantage and how it incorporates with Michael Porter’s Five Forces model and the Three Generic Strategies. Competitive advantage is a feature of a product or service on which customers place a greater value than they do with similar offerings from competitors. Competitive advantage provides the same product or service either at a lower price or with additional value that can fetch premium prices.…
To survive and thrive, an organization must create a competitive advantage. A competitive advantage is a product or service that an organization’s customers place a greater value on than similar offerings from a competitor. Unfortunately, competitive advantages are typically temporary because competitors often seek ways to duplicate the competitive advantage. In turn, organizations must develop a strategy based on a new competitive advantage.…
“A company achieves a competitive advantage whenever it has some type of edge over rivals in attracting buyers and coping with competitive forces.” (Hartman, DeJardins, MacDonald,2014. p. 4).…
The sustainability of competitive advantage depends on three conditions, the first is the particular source of the advantage, secondly sustaining advantage requires change, it demands that a company exploit, rather than ignore industry trends, it also demands that a company invest to close off the avenue along which competitors could attack and lastly, to sustain its position a firm may have to destroy old advantages to create new higher ones. (Portal, 1990)…
The criteria for determining whether a firm has a competitive advantage is whether the resources / capabilities are: Answers: a.…
Three ways a company can gain a competitive advantage is there organizational structure, the type of strategic strategy the company implements and how well an organization can motivate its employees to work.…
4) A firm can be said to have competitive advantage when they have higher stock market valuations than their competitors.…
Competitive advantage is when a firm implements a strategy that its competitors are unable to duplicate or find too costly to try to imitate.…