Question

Do you agree to achieve competitive advantage, an organization ultimately delivers more value at an equal or lower cost?????

Answer 1

True.

Competitve advantage means a business is able to provide more value at same cost or same value at low cost. Competitve advantage is leverage a business has over its competitors. It can be achieved by proving customers with better and greater value.In short competitve advantage is advantage over competitors gained by offering higher value to customers either by low prices or greater value at same prices.For eg: Excess to resources which are not available to competitiors such as high skilled labour which will allow optimum utilisation of resources and increases efficiency thus reducing cost of production,ultimately he will be able provide goods at low prices.