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Importance of Competitive Advantage in Small Businesses

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What is a competitive advantage? Why is it important for a small business to establish one?

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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.

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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 ...

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  • BA, University of Southern California
  • MSS, United States Sports Academy
  • Ed.D, Boise State University
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