The Benefits Of Competitive Advantage In Business

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In the most competitive economic ground of our days, firms and businesses seek to obtain a unique identity to become different than their competitors. This is known as competitive advantage. A business can gain it through outperforming the rivals of their businesses, and that is to gain the attention of the market costumers. While it is easy to say, it is not as easy to do. Generating a competitive advantage for a business requires a lot of abilities to have, such as being more informed about the current market situation and costumers’ in comparison to the other business owners. As we may know, the possibilities that technology can yield nowadays is outstanding. The use of applications to organize and obtain important information about the…show more content…
Let us all first agree on the following statement: It is not only enough to get the work done – It is when you get the work done, yielding the utmost value of your initial aim, especially for bigger enterprises. Basically, if I am the CEO of a company that produces a product, the sheer fact that I produced the quantity I aimed for in times does not make me satisfied; I need to know whether I produced my 500 units of product with a quality that can make each one unit of my 500 units worth 50 of the similar products by the other business owners. This is how Competitive Advantage is gained. Yes, somehow the cost of production will be a bit more, but the outcome is actually more efficient. To go further, I need to clarify one small difference between the need of BIS for small and medium firms in comparison with the bigger enterprises. While it is true that with smaller firm, smaller works need to be done, we still cannot deny the use of Business Intelligence Systems in the structure. It is not questionable that is beneficial, of course, but it is rather that small and medium enterprises (SMEs) need a less extend of BIS capacity, and that need might possibly be substituted with another Decision Support System (DSS) application. As been stated by a number of business and IT professionals, “Due to the size and specific characteristics, negotiation power of SMEs is limited. The choice of a suitable BI system is strategic, allowing companies to take advantage of advances in technology. Despite the advantages of applying techniques of BI in organizations in general, there are few alternatives aimed at SMEs. A viable alternative for SMEs could be choose the solutions Software-as-a-Service (SaaS).” Yet, as stated, we still come back to highlight that BIS never hurts and is always advantageous to have. Moreover, the quality of efficiency using BIS reflects

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