Advantages And Disadvantages Of Gaining Competitive Advantage
Most businesses operate in competitive markets: they have to 'take on' and 'see off' rivals. Each organization must decide for itself how best to try and do this. Not all firms come up with the same answer and for good reason. Firstly, there are several different ways of gaining competitive advantage. Secondly, businesses need to play to their strengths and not all businesses have the same strengths. Thirdly, many markets are segmented and what is important to one set of customers may be less important to another set. So businesses need to decide which segments of the market they are targeting.
Ways of seeking to gain competitive advantage include: offering lower prices, offering clearly superior products at above average prices, delivering products more quickly. offering superior customer service, including after sales service.
2.2 Objectives
The learning objectives are :
What is advantage of competitive quality form
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A firm has a sustained advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors and when these other firms are unable to duplicate the benefits of this strategy. A firm enjoying a sustained competitive advantage may experience these major shifts in the structure of competition, and may see its competitive advantages nullified by such changes. However, a sustained competitive advantage is not nullified through competing firms duplicating the benefits of that competitive advantage.
To have the potential of sustained competitive advantage, a firm resource must have four attributes : It must be valuable, in the sense that it exploit opportunities and/or neutralizes threats in a firm's environment. It must be rare among a firm's current and potential
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