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Competitive Advantage

In general, a competitive advantage is a capability or characteristic of an organization that significantly enhances success in a market, rivalry situation or encounter. For example, if customers perceive a firm has significantly higher quality products at a lower price then they will choose that firmís product or service over those of its competitors. A competitive advantage must be a significant strength of the organization, it must be unique and in must be sustainable for at least three to five years. A competitive advantage creates a favorable asymetry in a rivaly situation for the organization that possesses the advantage. An organization's distinctive competency is also often it's competitive advantage.



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