Identifying Competitive Advantages

Competitive Advantages

A competitive advantage in business is a product or service that an organization’s customers place a greater value on than similar offerings from a competitor.

Creating value

In todays world, technology plays a huge role in enabling a company to add value. Some of that value is expressed in the products created. Some of that value contributed by technology in a service organization is due to the ability to provide faster or more accurate service. The value that technology provides in some businesses is not apparent directly to the customer but is expressed in cheaper or better operations of the business itself.

How processes create value

First mover advantage

Porters 5 forces

Porters 3 generic strategies

Value chains

An entry barrier is a product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive.

Entry barriers

If you have developed a successful business guess what will happen?

How does product differentiation fit into this force?

Although competition is always more intense in some industries than others, today increased competition is prevalent in just about every industry.

Rivalry among existing competitors