COMPETITIVE ADVANTAGE:ITS IMPORTANCE AND IMPACT ON DESIGN OFSTRATEGY

Abstract

This article defines the various aspects of competitive advantage and brings out its importance in order to achieve a better performance that is sustainable over a period of time. Globalization brings forth new opportunities but also puts forward new challenges to be countered in order to be successful. The essence of strategy is choosing to perform activities differently than rivals do. Strategic competition can be thought of as the process of perceiving new positions that woo customers from established positions or draw new customers into the market. Strategic positions can be based on customers’ needs, customers’ accessibility, or the varieties of a company’s products or services.Key Words: Competitive Advantage, Business Strategy, Sustainability.