BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Competitive advantage refers to the ways that a company can produce goods or deliver services better than its competitors. It allows a company to achieve superior margins and generate value for the company and its shareholders.

Detailed explanation-2: -In sum, to achieve superior performance, a firm must have a competitive advantage, which allows a firm to achieve lower costs than rivals and better differentiate its product offering.

Detailed explanation-3: -If a company’s strategies result in superior performance, it is said to have a competitive advantage.

Detailed explanation-4: -Definition. Competitive advantage means superior performance relative to other competitors in the same industry or superior performance relative to the industry average.