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What is Competitive advantage and provide an example of it.
Step by step
Solved in 2 steps
- how does a company maintain competitive advantage?Think about an organization where that producs goods or services. How does this organization keep it's customers? What strategies might they be using to gain competitive advantage?What is the relationship between an organization's customers and its business level strategy?
- Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?What are the primary factors that shape competition in an industry, according to Porter’s model?Discuss the two main activities to create competitive advantage?