Learn what competitive advantage and stakeholder theory are, why they matter in the digital economy, and how to use them to succeed in your business or career. (original) (raw)

What are the key drivers of competitive advantage in the digital economy and how can you leverage them?

Competitive advantage and stakeholder theory are two important concepts in commercial awareness, especially in the digital economy. In this article, you will learn what they mean, why they matter, and how you can use them to succeed in your business or career.

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Competitive advantage is the ability of a business to offer superior value to its customers, compared to its rivals. Value can be created by offering lower prices, higher quality, more innovation, or better service. Competitive advantage can be based on tangible resources, such as technology, capital, or skills, or intangible assets, such as brand, reputation, or culture.

Competitive advantage is the unique advantage a business has over its competitors in the market. It can come in different forms, such as cost advantage, differentiation advantage, and focus advantage. To achieve it, a business must understand its market, customers, and competitors, and have the necessary resources and capabilities to execute its strategy effectively. In the digital economy, competitive advantage is driven by technology, data analytics, and innovation. Companies that leverage these tools effectively can gain an edge over competitors and capture a larger market share.

Learn what competitive advantage and stakeholder theory are, why they matter in the digital economy, and how to use them to succeed in your business or career. (original) (raw)

What are the key drivers of competitive advantage in the digital economy and how can you leverage them?

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