Competitive Advantage - Competitive Strategy

Competitive strategy refers to how a company competes.in a particular business. Overall strategy for diversified firms is referred to as corporate strategy. Competitive strategy is concerned with how a company, can gain a competitive advantage through a distinctive way of competing.

Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment.

A successful competitive strategy focuses on assessing unique strengths, identifying growth opportunities, collecting competitive intelligence, and responding to competitive threats. It will effectively support company's top-line growth objectives by helping to develop a differentiated and sustainable competitive position.

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