Asked by Jerome Xiong on September 18, 2021
Categories: Business and finance Executive leadership and management
Rating: 4.9/5 (32 votes)
Sustainable competitive advantages are company assets, attributes, or abilities that are difficult to duplicate or exceed; and provide a superior or favorable long term position over competitors.
What is competitive advantage example? Examples of Competitive AdvantageAccess to natural resources that are restricted to competitors. Highly skilled labor. A unique geographic location. Access to new or proprietary technology. Like all assets, intangible assets are those that are expected to generate economic returns for the company in thefuture.
What are the 6 factors of competitive advantage? There are 6 sources of competitive advantage.
- People. People are thedriving force behind most competitive advantage.
- Organizational Culture & Structure.
- Processes & Practices.
- Products & Intellectual Property.
- Capital & Natural Resources.
Why sustainable competitive advantage is important? Sustainable competitive advantage is the key to business success. It is the force that enables a business to have greater focus, more sales, better profit margins, and higher customer and staff retention than competitors. Cost advantage: the business competes onprice.
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