Competitive Advantage - Business concept of the day
Economy
334 week ago — 1 min read
Definition: Competitive advantages are conditions that allow a company or country to produce a good or service of equal value at a lower price or in a more desirable fashion.
Example: Companies in India and China have a competitive advantage in the manufacturing sector in comparison to the U.S and U.K because of lower labour costs.
Business Insight: Building a business around a competitive advantage is a good strategy for ensuring success and growth.
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