Competitive Advantage
Competitive edge is defined as how effectively an organization meets the needs of customers relative to others that offer similar goods or services. There many companies in the United States that have this competitive edge in their industry. Their competitive edge causes growth in many key aspects within the business. These are return on investment, better service to their employees and customers, paying of debt, and increased market share. There are many ways a company can have a competitive edge. These are price, quality, flexibility, time, service, employees, and product or service differentiation. A few of these companies are Dell Computer Corporation, United Parcel Service (UPS), and Wal-Mart. These companies have strengths in one or more of the competitive advantages listed above. The competitive advantages listed can be defined as the following. The most common way to have a competitive price is to make the cost low to customers. Most customers will look for the lowest price in the market. The main reason for customers wanting lowest price is to save money. By having a customer save money they are more likely to invest in the products or services offered by the company. Quality is defined as how well the
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