In order to operate well, it is extremely important for a business to develop the competitive poten¬tial, and to identify and keep the competitive advantages in a market economy. To define the term competitive advantage is a topical issue now as the businesses' growth on the international scale has become slower, and the market competitors become increasingly aggressive. It is now the main business task to identify and gain a competitive advantage and to turn it into a sustainable competitive advantage. A competitive advantage is the goods characteristics and specifications that create a competitive advantage for the goods producer and form an optimal goods charac¬teristics pattern that is good for a consumer. An advantage is seen best when different things are compared, therefore it is not an absolute property and its creation is influenced by many factors. In order to operate well, it is necessary for a business to develop a business development strategy that is based on the competitive advantages use.
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A business entity's competitive potential and competitive advantages
The author:
Semchenko A. A.
Degree:
PhD (Econ.), Senior Instructor, Chair of Economics and Competitiveness and Quality Management, Saint-Petersburg State University of Economics and Finance
Location:
Saint-Petersburg
