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Employees that are aware of how their business competes and functions will make wiser decisions. Consequently, management can gain a competitive advantage by providing staff with information.
Which five competitive advantages exist?
Five different kinds of competitive advantages
- Cost-based benefit. The most obvious method of gaining a competitive edge is this.
- Benefit from a product or service that is unique.
- Advantage of being first.
- a time-based benefit.
- advantage based on technology
What are some illustrations of competitive advantages?
Competitive Advantage Examples
- gaining access to natural resources that are off limits to rivals
- high caliber labor.
- a distinct geographic area.
- access to innovative or exclusive technology
- ability to produce goods at the lowest possible cost.
- brand identification
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