Question

Describe what is a competitive advantage and give an example. (150 words)

Answer 1

Competitive advantage is generally a core capability of an organization that gives it advantage over its competitors and helps the organization in the total competition process over the others in the industry. In business, today the level of competition is very high and each organization uses their core capabilities to get an upper hand in the total competition process and the organization who is able to take the advantage of the situation benefits the most. For example if we look at the smart phone industry we will see that the competitive advantage of Apple is their innovation ideas, for Samsung it is their price and brand reliability. In each and every organization this is the case and almost all organization have something which they use as a weapon to have competitive advantage.