DEFINE Competitive advantage
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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DEFINE Competitive advantage
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Competitive advantage:
The competitive advantage of an organization is the ability to produce components or does things more efficiently than other organizations. These are factors that allow an organization to generate more sales or market reach than the competitors. Competitive advantage can be seen as a result of many factors like cost structure, customer service, distribution network, IP, and so on. It is the differentiating factor between one organization and another when it comes to manufacturing the products.
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