Question

A company that can outperform other organizations due to its ability to provide its goods and services more efficiently and effectively is said to have a _______.

Answer 1

A company that can outperform other organizations due to its ability to provide its goods and services more efficiently and effectively is said to have a competitive advantage.

In order to provide goods or services better or more affordably than its competitors, a corporation must have a competitive advantage. These services enable the production unit to produce more sales or higher margins in comparison to its competitors in the service market. Cost structure, branding, the calibre of product offers, the distribution system, intellectual property, and customer service are just a few of the aspects that are credited with giving a company a competitive advantage. Due to particular service qualities or circumstances, competitive advantages increase value for a company and its shareholders. The harder it is for competitors to offset the advantage, the more sustainable the competitive advantage is.

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