The value chain is one way for a company to gain a competitive advantage over their competition. By understanding what the customers’ needs, the company can re-work their framework to compensate for the changes necessary to keep up or even surpass the competition. By having a competitive advantage one company can outsell and out profit the competition. This can be done with a company’s prices, services, or even the types of products they sell. “Competitive advantage is relative to existing and potential competitors” (Stabell, Fjeldstad, 1998).
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