12 Apr 2012
Creating Value and Competitive Advantage
To succeed in attaining its goals, the firm must perform better than its competitors. This means that the company must identify a competitive advantage that distinguishes the business from its competitors.
A company with a competitive advantage is able to create greater economic value for its shareholders, customers, and suppliers than its competitors. The company attempts to sustain its competitive advantage by engaging in continual innovation in production processes, product features, and transaction methods. A competitive advantage marketplace that anticipate the strategies of established competitors and potential entrants. The company exits some of its existing markets and enters new markets.
Competition is the fundamental challenge of business strategy. Good products and an efficient organization are rarely enough to survive and succeed, the company must outperform competitors in many different ways. Its
