Discover Your Competitive Advantage

The definition of competitive advantage is defined as the ability to stay ahead of present or potential competition.

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Cost Leadership Strategy - Companies may place themselves ahead of the pack by offering attractive pricing.

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Differentiation Strategy - Branding is likely the most widely used method to differentiate one company from another.

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Innovative Strategy - Companies may move ahead of the competition by doing things in new and different ways.

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Operational Effectiveness Strategy - Some companies just do what they do better than anyone else. For individuals, this may mean creating systems of operating or new ways to analyze data.

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Technology-Based Competitive Strategy - Workers who embrace new technology and learn to master it nearly always redefine or increase their competitive advantage over those who resist new methods.

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Adaptability Competitive Advantage - As markets, economies, and other factors change in this increasingly unstable and unpredictable environment, companies that can adapt have a distinct advantage.

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The Information Advantage - Almost all the other strategies benefit from excellent information. The definition of competitive advantage is the skills needed to outpace your rivals.

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