Competitive Advantage
Competitive advantage is a fundamental principle of management in competitive economies. This concept is designed to help business owners to rapidly understand those resources that allow business entities to develop and maintain an edge over competitors.
Technique Overview
Competitive Advantage Definition
Competitive advantage is held by a firm if it is able to create more economic value than the marginal (breakeven) competitor in its product market (Peteraf and Barney, 2003: 314). Porter (1980) argued that value can be created by producing a product or service at a lower cost, providing greater benefits, or a combination of the two.
Competitive Advantage Description *
* The full technique overview will be available soon. Contact us to register your interest in our business management platform, and learn all about Competitive Advantage.
Business Evidence
Strengths, weaknesses and examples of Competitive Advantage *
* The business evidence section is for premium members only. Please contact us about accessing the Business Evidence.
Business Application
Implementation, success factors and measures of Competitive Advantage *
* The business application section is for premium members only. Please contact us about accessing the Business application.
Professional Tools
Competitive Advantage videos and downloads *
* The professional tools section is for premium members only. Please contact us about accessing the professional tools.
Further Reading
Competitive Advantage web and print resources *
Competitive Advantage references (4 of up to 20) *
- Barney, J.B. (1991) Firm Resources and Sustained Competitive Advantage. Journal of Management, Vol. 17(1), pp. 99-120.
- Boxall, P. and Macky, K. (2009) Research and Theory on High-performance Work Systems: Progressing the High-involvement Stream. Human Resource Management Journal, Vol. 19(1), pp. 3-23.
- Business Week (2006) Fashion Conquistador. [Online] Available at: http://www.businessweek.com/magazine/content/06_36/b3999063.htm.
- Chakravorti, B. (2010) Finding Competitive Advantage in Adversity. [Online] Available at: http://hbr.org/2010/11/finding-competitive-advantage-in-adversity/ar/1.
* The further reading section is for premium members only. Please contact us about accessing the further reading.
Learn more about KnowledgeBrief Manage and how you can equip yourself with the knowledge to succeed on Competitive Advantage and hundreds of other essential business management techniques