Competitive Advantage: A Pervasive Phenomenon

Introduction
Competition is understood differently by different people and it has also changed its colour, course and complexion over a period of time. As of now it is an all pervasive phenomenon and people tend to believe that there cannot be progress without competition. We have reached a level where it seems to be taken for granted- individuals have to be competitive, companies have to be competitive and even countries have to be competitive. Every organized activity even outside the domain of business and commerce is also highly competitive. Interestingly even religions are getting competitive to prove the superiority of one over the other. Nonprofit enterprises such as colleges, churches and charities, for example, generally face numerous rivals eagerly seeking the same students, parishioners and contributors. Because competition is such a pervasive aspect in all arenas.
There are some people who even believe that they have to compete with themselves. Though one cannot compete with himself, we do find such interpretations in present day communication. In this case the competition refers to enhancing one’s own earlier performances and benchmarks.
In today’s business world, competition is the key factor which helps every organization to grow and to serve better. Business organizations set different and unique strategies to win over the competitors. These strategies help them to survive in the market and improve or to sustain their growth rate. Business strategies are all about competitive advantages. Organizations require strategies in order to guarantee that the resources are allocated in the ideal way. There are numerous studies and researches conducted related to strategies and every study reveals the necessity of having the best strategies in order to run the business successfully. Strategy includes the ideas, plans and the support that the firm employs to compete successfully against their competitors. As competitors and the intensity of competition