Identifying competitive advantages can be difficult and explains why they are typically temporary.
Competitive advantages are economic factors that enables a company be ahead of its competitors when it is able to produce goods which are similar to its competition at a cheaper rate. It is the ability of a company to produce goods more efficiently than its competitors, which leads to greater profit margins.
Examples of competitive advantage are:
Hence, Identifying competitive advantages can be difficult and explains why they are typically temporary.
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