Answered: 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...

See similar textbooks

Related questions

Question

DEFINE Competitive advantage

Expert Solution

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.

Step by step

Solved in 2 steps

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions