A competitive advantage is a product or service that customers value more from one organization over competitors. Technology can add value for customers through faster or more accurate services, or enable cheaper operations. Entry barriers are product features customers expect in an industry that new competitors must also offer to be successful.

2. A competitive advantage in
business is a product or service
that an organization’s
customers place a greater value
on than similar offerings from a
competitor.

3. Creating
value

4.  In todays world, technology plays a
huge role in enabling a company to
add value. Some of that value is
expressed in the products created.
Some of that value contributed by
technology in a service organization
is due to the ability to provide faster
or more accurate service. The value
that technology provides in some
businesses is not apparent directly to
the customer but is expressed in
cheaper or better operations of the
business itself.

9.  An entry barrier is a product or service
feature that customers have come to expect
from organizations in a particular industry
and must be offered by an entering
organization to compete and survive.

10.  If you have developed a successful business guess
what will happen?
 How does product differentiation fit into this force?
 Although competition is always more intense in
some industries than others, today increased
competition is prevalent in just about every
industry.