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Strategic Positioning: Competitive Advantage and Value Creation (B) Key concepts – Background Note
By Bukky Oyedeji
2024
Definition of competitive advantage: A firm has a competitive advantage when it earns a higher economic profit than its rivals in the same market. This is achieved by creating and delivering more economic value.
• Value creation: Value creation is central to competitive advantage. It is defined as the difference between the perceived benefit (maximum willingness-to-pay) and the cost incurred in producing the product/service (hereafter, product).
Learning objectives
Strategic Positioning: Competitive Advantage and Value Creation: Key concepts
Details
| Publication Date: | September 2024 |
| LBS Case Code: | BCN-002B-24 |
| Topic: | Strategy |
| Subjects: | |
| Industry: | |
| Geography: | |
| Pages: | 6 |
| Format: |
