Competitive advantage
Competitive advantage is the leverage that a business has over its competitors. This can be gained by offering clients better and greater value, access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology.
Definition
According to Management by Robbins and Coulter (14th edition),
- Competitive advantage. What sets an organization apart; its distinctive edge.
According to Marketing Management by Keller and Kotler (15th edition),
- Competitive advantage. A company's ability to perform in one or more ways that competitors cannot or will not match.
According to the Corporate Strategy by Lynch (4th edition),
- Competitive advantage. The significant advantages that an organization has over its competitors. Such advantages allow the organization to add more value than its competitors in the same market.
