- November 4, 2021
- Posted by: proactive557
- Category: Uncategorized
Dr. Fatma Sakr
Expert and Consultant in Marketing & Entrepreneurship
Competitive advantage is a key to corporate success and an important strategic objective for which competition in the economic climate is most intense. The importance of having a competitive advantage is reflected in the fact that organizations add value to clients to meet their needs, satisfy their desires, ensure their loyalty and support the mind image of the organization, and achieve strategic excellence over competitors in terms of the goods and services they provide, with the potential for excellence in resources, competencies and strategies. organizations seek to create a competitive advantage in order to achieve many objectives, including creating new market opportunities, such as Apple, which took the lead in producing the first personal PC, as well as entering a new competitive field, such as entering new markets or dealing with new customer quality or product quality.
It is necessary to different between the concept of competitive advantage and the concept of competitive necessity, whereas, competitive advantage refers to what organizations do efficiently and effectively in order to achieve some kind of superiority over their competitors and therefore can improve their performance and achieve their objectives on the one hand and add value to their customers on the other, and this competitive advantage has many sources that may be represented by its internal environment and the tangible and intangible resources it contains such as the basic factors of production, energy, raw materials and others and may generate competitive advantage from the management systems used and developed, management methods, good stimulation methods, research and development returns creativity and knowledge while, the competitive necessity uses these sources in order to imitate competitors and catch up with their knees. organizations can achieve competitive advantage through their resources if they have a set of basic characteristics:
– Inability to imitate