Unique or superior feature, resource, or capability of a company that enables it to outperform its rivals in the marketplace and to create sustainable value for its customers and stakeholders
1
Can be based on different factors, such as quality, innovation, cost, speed, service, brand, network, scale, or customer intimacy, that provide a distinctive and valuable benefit to customers
2
Can be developed through various methods, such as research and development, patents and trademarks, supply chain optimization, talent management, customer insight, or strategic alliances
3
Can be sustained or eroded over time, depending on the company's ability to defend its position, to adapt to changing market conditions, and to leverage its strengths and opportunities
4
Can create various benefits for the company, such as higher market share, pricing power, customer loyalty, profitability, and growth, and can also have positive externalities, such as job creation, innovation, or social impact
5
Can be a key consideration in strategic planning, investment decisions, and performance evaluation, and can also be a source of risk, if the company becomes too reliant on a single advantage or fails to anticipate disruptive threats from competitors or new entrants.