Transcription of COMPETITIVE ADVANTAGE: ITS IMPORTANCE AND IMPACT …
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COMPETITIVE ADVANTAGE: ITS IMPORTANCE AND IMPACT …
International Journal of Application or Innovation in Engineering & Management (IJAIEM) Web Site: Email: Volume 2, Issue 12, December 2013 ISSN 2319 - 4847 Volume 2, Issue 12, December 2013 Page 7 ABSTRACT This article defines the various aspects of COMPETITIVE advantage and brings out its IMPORTANCE in order to achieve a better performance that is sustainable over a period of time. Globalization brings forth new opportunities but also puts forward new challenges to be countered in order to be successful. Key Words: COMPETITIVE advantage , Business Strategy, Sustainability. 1. INTRODUCTION A company can outperform rivals only if it can establish a difference that it can preserve (Porter, 1996)[1].
A competitive advantage exists when a firm has a product or service that is perceived by its target market customers as better than that of its competitors (Dess et al, 2005)[3]. The magnitude of a firm’s competitive advantage is the difference
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