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.
According to the Strategic Management by David and David (15th edition),
- Competitive advantage. Anything a firm does especially well, compared to rival firms. For example, when a firm can do something that rival firms cannot do, or owns something that rival firms desire, that can represent a competitive advantage.
