Importance of Competitive Advantage in Small Businesses
Not what you're looking for?
What is a competitive advantage? Why is it important for a small business to establish one?
Purchase this Solution
Solution Summary
This solution defines competitive advantage and explains why it is important for a small business to establish a competitive advantage. It includes a link and examples.
Solution Preview
A competitive advantage is when a company or individual has something more to offer its' customers than its' competitors. Michael Porter calls it a cost advantage when a company is able to deliver the same benefits or product as competitors but at a lower price. It is a ...
Education
- BA, University of Southern California
- MSS, United States Sports Academy
- Ed.D, Boise State University
Recent Feedback
- "Thk u"
- "Thank you!:)"
- "Thank you!:)"
- "Thank you!:)"
- "Thank you!:)"
Purchase this Solution
Free BrainMass Quizzes
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Motivation
This tests some key elements of major motivation theories.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.