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Process of the Competitive Advantage- Article

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Added on  2020-02-18

Process of the Competitive Advantage- Article

   Added on 2020-02-18

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Process of the Competitive Advantage- Article_1
1COMPETITIVE ADVANTAGE AND ENTREPRENEURSHIPDefinition of the Concepts:There are two concepts presented in the article, which denotes the measurement processof the competitive advantages for any organization in the targeted market. The first concept thatis presented in the article is the SWOT (strength, weakness, threat and opportunities) frameworkexamining the potential of the organization in achieving the competitive advantages (Hunt andMadhavaram 2012). The SWOT is the analytical framework for assessing the internal andexternal factors of the organization that determine the competitive advantage. The second concept is Porter’s Five Forces model. The Porter’s Five Forces framework isthe analytical tool for the organization to measure and ensure the competitive advantages. Thefive forces are the competitive rivalry, the threat of new entries, buyer power, supplier power andthe threat of substitution (E. Dobbs 2014).Important Facts: The article presents few facts which are related to the study of the competitive advantagesand the management perspective on the same. The facts that are presented in the article are thequestion that the managers need to address while filling the internal blanks identified by theSWOT analysis of the organization. The four important facts are the question of values, questionof rareness, question of imitability and the question of organization (Hollensen 2015). The fourdifferent facts represent different concept and analysis of the capabilities and resources of theorganization (O'Reilly and Tushman 2013). These questions are the facts that give the clear andprecise idea of the values, rareness, imitability of the resources and capabilities of theorganization as the whole.
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