The foundations of competitive advantage are resources, capabilities, and core competencies. Explain how employees (intangible resources) create internal capabilities for an organization that lead to core competencies.
- The foundations of competitive advantage are resources, capabilities, and core competencies. Explain how employees (intangible resources) create internal capabilities for an organization that lead to core competencies.
Competitive advantage:-
A corporation is said to have a competitive edge if it can create goods or services more quickly, cost-effectively, or both than its rivals. These factors provide the producing unit the advantage over rivals in terms of sales or margins. The factors that are believed to contribute to competitive advantages include cost structure, branding, the quality of the product offerings, the distribution system, intellectual property, and customer service, to name just a few.
If a company can produce a good more efficiently than a rival, increasing profit margins, then it has a comparative advantage. A corporation is said to have a differential advantage when its products are considered as both distinctive and superior to those of a rival.
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