Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment.
Read more about Competitive Advantage: Resource-based View Perspective, 1. Cost Leadership Strategy, 2. Differentiation Strategy, 3. Innovation Strategy, 4. Operational Effectiveness Strategy, 5. Customer-Orientation Strategy, Project Socrates
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