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What is Competitive advantage

Cases on Small Business Economics and Development During Economic Crises
Conditions that enable a business to produce a good or service of equal value at a lower price or more desirable than its competitors.
Published in Chapter:
Suggestions for SMEs as They Emerge From Crisis Periods
Engin Meriç (Trakya University, Turkey)
DOI: 10.4018/978-1-7998-7657-1.ch011
Abstract
Existing financial problems of SMEs, which have an important place in the economies of countries, deepen even more in times of crisis, affecting businesses negatively and leading them to failure. In the crisis conditions, the strategies that SMEs have implemented in order to maintain their balance in their economic activities and to be successful are of critical importance. For this purpose, a method has been proposed for SMEs to determine the exit method from the crisis in the first crisis phase, which they will notice before entering the chronic crisis phase. In the proposed method, a financial check-up was planned to include 1-Current Assets, 3-Short-Term Liabilities, 5-Equity and production and sales strategies. In addition, as a result of the application of this proposed method periodically, SMEs' control of finance and cash flow will contribute significantly to both their protection from economic problems and their internal control systems.
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Optimal Motivation and Governance of Education Agents: International Student Recruitment
An advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition.
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Digital Marketing and Sustainability Competitive Advantage: A Conceptual Framework
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Assessing the Competitiveness of Sri Lanka's Tourism in the COVID Period by Porter's Diamond Model
The advantage over competitors gained by offering greater customer value within the market, either by offering lower prices, high benefits, or other premium qualities/features that justify the higher prices.
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Business Successes of Malaysian Housing Developers
The capacity of an organization to outperform other rivals by producing defensible position.
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Can Tacit Knowledge be Shared on Cloud?: An Opportunity for Viability From PBL
A firm’s ability to outperform its rivals, developing a product (tangible asset) or implementing a strategy (intangible asset) they are unable to duplicate or it would cost them too much to just imitate it. A competitive advantage cannot last forever, and for that reason innovation is crucial for the organization.
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Artificial Intelligence as Driver for SME Competitiveness
A condition or circumstance that puts a company in a favourable or superior business position.
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Integrating Performance Measurement Systems Into the Global Lean and Sustainable Construction Supply Chain Management: Enhancing Sustainability Performance of the Construction Industry
The competitive advantage is a strategy of everything that will stand out from your competitors which will provides a unique authority according to competitors: for instance, it may be the quality of company’s product or service, may be a feature that cannot be copied or differentiated from company, or it may be brand reliability, recognition or price.
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Current Trends in Human Capital Formation
An attribute which allows an organisation to outperform its rivals
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Acquiring Competitive Advantage through Effective Knowledge Sharing
In a given market, a firm achieves a competitive advantage whenever it sustainably outperforms over its competitors.
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Best “Experience” Practices in Medical Tourism
An element that renders business superiority over its competitors such as a team of unique talent, a cutting-edge technology, and a special geographical location. This superiority enables the business a better chance of winning in a competition.
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The Digital Frontier: Navigating the Challenges and Opportunities for Generation Z in the Labor Market
A unique strength or attribute that sets a business apart from its competitors, allowing it to outperform rivals in the market, attract customers, and achieve greater success.
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Strategic Greening and Social Responsibility of Organizational Development
A competitive advantage is any characteristic of a company, country or person that differentiates it from others, placing it in a superior relative position to compete.
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Opening Closed Business Ecosystem Boundaries With Digital Platforms: Empirical Case of a Port
The ability to generate greater value for an organization, shareholders, and stakeholders than competitors.
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Assessing the Relationship Between Brand Image, Market Orientation, and Competitive Advantage
Based on the strategies of broad cost leadership, broad differentiation, cost focus and differentiation focus.
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Competitive Edge Building in Business: An Approach Through Ethical Marketing Practices
A condition or circumstance that puts a company in a favourable or superior business position.
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Disruptive Innovations: A Mechanism for Achieving Business Distinction in the Hospitality Industry
A competitive advantage is the attribute that allows an organization to outperform its competitors.
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Corporate Social Responsibility: Strategy for Boosting Brand Perception and Competitive Advantage
It refers to a company's ability to outperform competitors as a result of unique and superior quality products or services delivery. It can also be said to be that which makes a firm's goods or services superior compared to of other choices.
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Generating Competitive Advantages for the Polytechnic Universities in Mexico
It is the ability of a firm to add value to products or services. This additional value cannot be imitated by other firms. This should produce the widest possible wedge between a customer willingness to pay and a supplier opportunity cost.
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Smart Tools for Tracing Organizational Competitive Behavior on Fast Decision Making
This describes the ability of a company to stand out from other companies or industrial sectors through a set of techniques or skills. Product or service innovation is usually the most common mechanism used in this context. Competitive advantages often cannot be maintained over the long term because markets are constantly changing, and companies must be alert to these changes.
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An Entrepreneur Sees the Reward: The Importance of Intellectual Capital and Corporate Social Responsibility in a Company
A firm’s having strong competition power in the market through using its skills and valuable resources.
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Strategic Value Creation in a Supply Chain
A condition that puts a company in favorable position relative to its competitors.
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Modern Talent Management: Theoretical Framework
A competitive advantage is defined as the ability of a business entity to serve or produce something in a preferred manner and more effectively than competitors, resulting in higher brand value and profit margins.
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Post-Pandemic Restorative Talent Management Strategy for SME Development
An advantage that firms have over their competitors, allowing them to generate greater sales or margins and/or retain more customers than their competition. There can be many types of competitive advantages including knowledge, skills, structure, product offerings, distribution network, and support.
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ICT Adoption Cordons in SMEs for Competitive Advantage
An advantage that firms has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the knowledge, skills, structure, product offerings, distribution network, and support.
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Impact of Social Media Readiness on Social Media Usage and Competitive Advantage
For the purpose of this chapter, the concept of competitive advantage as proposed by Porter in his 1985 work has been used as the basis. Porter describes three different ways that companies can use for competitive advantage: cost leadership, differentiation, and focus.
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Talent Management: Retaining Distinctive Human Capital Sustainably
The notion is linked with factors that support the organization’s leading position in the competitive environment.
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Social Media: Concept, Role, Categories, Trends, Social Media and AI, Impact on Youth, Careers, Recommendations
A competitive advantage is the unique ability of a firm to utilize its resources effectively, managing to improve customer value and position itself ahead of the competition. In other words, it’s something that a company does better than its competitors because of some proprietary process, service, or brand.
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Competitive Advantage, Open Innovation, and Dynamic Capabilities: Is Sanofi Employing an Open Innovation Strategy?
A specific type of advantage possessed by a firm over its competitors. Its durability determines the firm’s resilience.
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Operational Challenges in Hybrid Organizations: Insights for Future Research
A characteristic of an organization which allows it to differentiate from the competition (e.g. cost of products, quality, etc.).
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Converged Networks and Seamless Mobility: Lessons from Experience
It is the distinct way a business or firm is positioned in the market in order to obtain an advantage over competitors, which means an ability to maintain sustained levels of profitability above the industry average.
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Green Supply Chain Management in Malaysia Service Industry
Is the unique strength possessed by a particular company through continuous improvement, new innovation, value generation and also understanding on the market demand.
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That's So Last Season!: An Exploratory Study on Information Technology as Fashion
The ability to have or potential to earn higher profit or success than competitors.
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Branding Through Online Social Networks: Impacts on Export Markets
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Strategic Greening and Social Responsibility of Organizational Development
A competitive advantage is any characteristic of a company, country or person that differentiates it from others, placing it in a superior relative position to compete.
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Consumerism, Market Analysis and Impact on Business Plan Definition
Condition which enables a company to operate in a more efficient or otherwise higher-quality manner than the companies it competes with, and which results in benefits accruing to that company.
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Sustainable Competitive Advantage With the Balanced Scorecard Approach
An advantage that a firm has over its competitors, allowing it to generate greater margins and/or retain more customers than its competitors.
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The Importance of Electronic Commerce in Modern Business
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge the higher prices by providing the greater value through differentiation.
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Ascertaining the Interest of Women to Drive Innovation Through Entrepreneurship Post-Pandemic: A Research Study in the United Arab Emirates (UAE)
It allows a company to create a unique selling point, produce goods or services efficiently in a cost-effective manner to gain customer admiration and stay ahead of its rivals.
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Impact of Tacit Knowledge on Tourist Loyalty: Some Evidence From Rural Tourism
A resource, competence, or ability that a company has regarding its competition and that gives it a strategic superiority.
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The Roles of Knowledge Management and Organizational Innovation in Global Business
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation.
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Leadership in FinTech: Authentic Leaders as Enablers of Innovation and Competitiveness in Financial Technology Firms
Competitive advantage is the ability for an entity to hold a strategy, process, or product that enables them to be superior to their competitors.
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Fostering Supply Chain Management in Global Business
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation.
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Employer Branding in the Digital Era
Competitive advantages enables companies to gain a superior and therefore advantageous position than their competitors in the marketplace.
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Business Literacy Education in the Digital Age
A situation for a firm, being more successful than its competitors.
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Harnessing Externalities to Enhance Competitiveness in an Industrial Cluster: Experiences in a South African Cluster
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation.
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Strategy From Human Talent
Differential factor, unique aspect of a company that leads to being competitive.
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Working Anywhere Management Opportunities and Challenges
A term coined by Michael Porter that means an advantage over competitors measured by profits that exceed the average for the industry. This advantage could take the form of a cost advantage (for example, producing goods at a lower cost because of streamlined business processes) or differentiation (for example, excellent customer service).
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Strategic Groups in the Portuguese Banking Industry: An Analysis of the 2008-2010 Period
Is the advantage a firm has over its competitors, which allows the firms to outperform its competitors and thus generate more revenues. The firm with a competitive advantage has an edge over the rivals, which is based on unique resources or capabilities, which allow it to generate more value to the shareholders. The main sources of competitive advantage may be patents, strong distribution network, innovative culture, stronger new product development capabilities, cost-efficient production systems, etc.
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Green Practices in Supply Chain Management to Improve Sustainable Performance
Superior characteristic versus competition, which customers values and is willing to pay for it.
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Learning Organizations: Connections between Diversity and Innovation
When an organization possesses some advantage over its rivals in a given sector or market, making it more profitable or sustainable than other organizations.
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The Role of Electronic Commerce in the Global Business Environments
A superiority gained by an organization when it can provide the same value as its competitors.
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Explaining the Firm's De-Internationalization Process by Using Resource-Based View
Refers to an advantage market position gained by the firm over its competitors, which would yield to superior performance (Hunt and Morgan, 1995 AU49: The in-text citation "Hunt and Morgan, 1995" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ).
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The Importance of Employment Injury Insurance and Protection in Managing Occupational Safety and Health of the Workforce
The advantage that the company achieves in relation to its competitors by offering similar products/services at a lower price or higher value and quality.
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Internationalization of Higher Education Institutions in North Cyprus
The methods that can be used to put the universities a head of their competitors.
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The Blue Economy and Its Long-Term Competitive Advantage: An Examination of China's Coastal Tourism
A position that enables a firm to provide goods and services superior to its customer’s other choices.
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Sustainability and Competitive Advantage: A Case of Patagonia's Sustainability-Driven Innovation and Shared Value
An advantage that a firm has over its competitors, allowing it to generate greater-than-expected value from the resources it employs. Thus, competitive advantage means having low costs, differentiation advantage, or a successful focus strategy.
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Implementing Electronic Commerce in Global Marketing
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation.
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Organizational Agility as a Key Driver of Innovation Performance in SMEs and Large Enterprises
Competitive advantage refers to an organization's ability to outperform others in the same industry or market based on various performance criteria.
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Service Quality Imperative for Quality Assurance in Higher Education: A Case Study
This refers to what makes a university’s service offering superior to its competitors.
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Drucker and Porter on Management and Analysis
Whereby the company has a resource advantage over the competition to enable it to be sustainably profitable.
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Acquiring Competitive Advantage through Business Intelligence
The ability gained through attributes and resources to perform at a higher level than others in the same industry or market.
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Firm's Competitive Growth in the Social Media Age
An organizational capability to perform in one or many ways that competitors find difficult to reproduce now and in the future.
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Sustainability Strategies for Developing SMEs and Entrepreneurship
Strategic business position of a company that made specific features to the company from its competitors.
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Knowledge Spillovers and Strategic Entrepreneurship Revisited: A Review
Favorable position an organization seeks in order to outperform its rivals.
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Factors Creating Competitive Advantage for Family-Owned Business
An advantage that firms have over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the knowledge, skills, structure, product offerings, distribution network, and support.
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Impact of Open Innovation on the Competitive Advantage of Hospitality Sector SMEs
Considered strategic resources, including six dimensions: reputational resources; access to financial resources; human resources; cultural resources; relational resources; and informational resources.
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The Role of Market Orientation and Organizational Capabilities of Family Businesses on Competitive Advantage
A condition that puts a company in a superior business condition compared to its competitors.
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Student-Faculty Joint Research as a Strategic Alliance for Knowledge Co-Creation in Academia
An advantage that firms has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the knowledge, skills, structure, product offerings, distribution network and support.
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Impact of Management Automation on the Processing of Business Information
A company's ability to obtain a better position in the market in which it operates, to defend itself against its competitors and also maintain its customers. It is the quality possessed by the company and its products so that in the same context, consumers or customers decide to select this company among the other potential options.
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Farm Food and Beverage: An Attractive Element of Gastronomy in Agritourism
Competitive advantage refers to the company’s ability to provide goods and services to its customers that is more worhwhile than its rivals. In an agritourism context, farm food & beverage is embedded in gastronomy, and it should of unique, authentic and attractive to tourists other than the other farm tourist destinations. Thus, the attractions are the main ingredients of competitive advantage.
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Clusters as Entrepreneurial Ecosystems for Corporate Social Responsibility in SMEs
Any advantage that a company has over its competitors, allowing it to generate greater performance than them. In the context of this chapter CSR has been presented as a source of competitive advantages giving a firm an edge over its rivals and an ability to generate greater value for their stakeholders.
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Social Innovation as Driver of Regional Competitiveness: A Conceptual Framework
A unique position that a nation, region, or firm develops in comparison with its competitors.
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The Business Value of E-Collaboration: A Conceptual Framework
The ability of a firm to systematically achieve above-normal performance.
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Leadership and Strategic Decision Making Under Exogenous Shocks Such as COVID-19
Is a condition or circumstance that puts a company in a favorable or superior business position.
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The Influence of Social Media Management on Firms' Competitiveness
A favorable business condition that allows outperforming the competitors.
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Smart Specialization Strategy: Does It Really Foster Regional Competitiveness? Smart Specialization and Regional Competitiveness
It is a specific condition and a situation during the development phase of a region, which places regions to be in a very promising circumstances to manage their difficulties and gain a favorable business position.
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Human Capital Development
A competitive advantage comes from providing greater value and services for customers than competitors can.
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Entrepreneurial Intent and Opportunities Linkage for the Sustainable Tourism Sector
An advantage that firms has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the knowledge, skills, structure, product offerings, distribution network, and support.
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From Competitive Agility to Competitive Leapfrogging: Responding to the Fast Pace of Change
An advantage that places a firm ahead of its competitors by offering customers greater value in the form of lower prices or by providing additional benefits and service.
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The Roles of International Entrepreneurship and Organizational Innovation in SMEs
A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation.
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Employment in Innovation Performance: Comparison of Turkey and EU Countries
A concept that causes superior performance of a nation, an institution, an individual or an organization compared to its competitors.
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Cultural Indoctrination and Open Innovation in Human Creativity
The attribute that allows an organization to outperform its competitors. A competitive advantage may include access to natural resources, highly skilled labor, geographic location, high entry barriers, and access to new technology.
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Conceptual Model for Corporate Universities
A positive, relative position held by a firm as compared with competitors within a market or industry (Cepeda-Carrión, 2006).
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Sustainable Competitive Advantage With the Balanced Scorecard Approach
An advantage that a firm has over its competitors, allowing it to generate greater margins and/or retain more customers than its competitors.
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Economic Incentives and the Knowledge Economy
This is a position a firm occupies against its competitors, allowing it to earn revenues higher than costs, including cost of capital.
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Enterprise Resource Planning Systems: Effects and Strategic Perspectives in Organizations
Also known as organization’s sustains profits that exceed the average said to possess competitive advantage. Similar to a competitive advantage is an advantage over competitiors by offering consumers greater value either by means of lower prices or by providing greater benefits associated in the manuscript with: competitive advantage through ERP
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Uses, Applications, and Benefits of Virtual Reality Technologies in E-Business
A business or organization that has an identifiable and favorable advantage over another business or organization of a similar caliber based on its processes, techniques, or operating procedures.
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A Dynamic Capability to Determine Business Performance in the Post-COVID-19 Era: Organizational Agility
The ability of an organization to outperform relatively others in the same industry or market in terms of various performance criteria.
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Strategic Analysis of the Rise and Fall of UBER in the Private Urban Transport Business: Evidence From the Metropolitan Area of Guadalajara
A competitive advantage is any characteristic of a company, country or person that differentiates it from others, placing it in a relative superior position to compete. That is, any attribute that makes it more competitive than the others.
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Organizational Learning and Competitive Advantage
An advantage a firm gets over competitors in the same industry by offering consumers greater value, either by means of lower prices, greater benefits, or service.
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Supply Chain Resilience in Service Organizations: A Case Study of Kohinoor Hospital, Kurla, Mumbai
The phenomena of competitive advantage have been added in the modern marketing approaches developed by Philip Kotler. It has been aimed to provide businesses the opportunity to increase their competitiveness in terms of the market performance in terms of its sales and its product presence in the marketplace.
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Linking Intangible Resources and Competitive Advantage
Based on the strategies of broad cost leadership, broad differentiation, cost focus, and differentiation focus.
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Ethical Business Marketing: The Practices to Compete Successfully in Business
It refers to elements that enable a business to create goods or services more effectively or affordably than its competitors. These elements enable the producing unit to outperform its competitors in terms of sales or margins.
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Competitive Advantage Development in Family Firms by Transforming Entrepreneurial Orientation Into CSR: Evidence From Spain
Firms develop competitive advantages by implementing strategies that exploit their internal strengths, through responding to environmental opportunities, while neutralizing external threats and avoiding internal weaknesses.
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Business Intelligence
Refers to a firm’s ability to create economic values over its rivals by providing similar benefits at a lower cost or delivering benefits that exceed the competitive products.
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Strategic Human Resource Management: Shaping Human Capital Development and Creative Work Behavior
A state of affairs or set of circumstances that places an organization in a more advantageous or dominant position in the marketplace.
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Applying Diversity-Intelligent Organizational Strategies for Competitive Advantage
Characteristics of the organization that distinguishes it from its competitive peers.
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Understanding Human Resources Needs in Tourism: A Competittive Advantage
An advantage that arises from internally developed core competences or distinctive capabilities based on knowledge developed through organizational learning. It depends on the behavior of the organization rather than its competitive environment.
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