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What is Competitive Advantage? Definition & Meaning of Competitive Advantage in Business - Animated - YouTube
Channel: Shaf Rasul
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want to talk the talk when it comes to
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business but you don't quite have the
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know-how you've come to the right place
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my C's speak like shaft will explain all
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those confusing business terms and will
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make you feel more whole for them and
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self-assured when you're using them
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today we are good to look at what
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competitive advantage means first simply
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competitive advantage is the condition
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that enables a company to do better than
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its rivals the sporting model provides a
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great analogy Serena Williams has won a
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whopping 23 Grand Slam singles titles
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and has dominated the game but what gave
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her the edge over her rivals more than
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anything it was her role - when - when
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once as an achievement but to do it
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time after time takes incredible mental
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strength talking of strength she was
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more powerful and more ocular than her
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rivals less would have painted her
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nothing if she wasn't dead a heater blew
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and she brought up morning after morning
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year after year to practice as sexy a
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all these qualities combined to give her
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a competitive advantage she even won the
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Australian Open when she was pregnant
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no that does make her a super woman
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sprinter who singles long legs give him
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an advantage swimmer Michael Phelps leg
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field helped him succeed but just like
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Selena these advantages wouldn't care
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for anything if they don't dedicate
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their lives to their sport and have the
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determination to win people on business
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could learn a thing or two from them
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you can have all the talent in the world
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but unless you're willing to put in the
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hard graft you will realize your and
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your company's true potential a business
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can get competitive advantage by
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producing superior products more pricing
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better technology and a more dynamic
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workforce in a previous walks we've met
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the world's first entrepreneur Rob the
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rock star was a storage man who set up a
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business meeting and selling tools for
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hunting animals you see Rob was a novice
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hunter borrowing business man he
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couldn't catch idea to save his life by
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Spears bows and arrows that the trek for
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his neighbors and friends before long
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Rob's bestest grew and he started
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employing people it wasn't just his
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business that groove his success
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inspired some rebels to set up to but
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Rob's designs give him a competitive
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advantage because they were far superior
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than anything else that was available he
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was able to produce more and sell them
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at a better price
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so his profit margins were better and
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because he was the first company to do
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this he was trusted by his customers and
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the Steve loyal temp all of these
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factors men he had a competitive
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advantage over his rivals
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so if you're starting it think about
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what set you apart and give you an
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advantage as it your product your
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service your price like grab the rock
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star and athletes le now you seen and
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Michael you could be on a leave of your
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own let me know what you think and don't
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forget to subscribe to my youtube
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channel
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it won't cost you a penny and you can
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discover my competitive advantages for
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my bestest rifles
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[Music]
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you
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