Description
Competitive advantage is what sets an organization apart. A competitive edge is a necessary ingredient for an organization's long-term success and survival. Unique resources provide a company with a sustainable competitive advantage. The four characteristics of unique resources are value, rarity, ability to duplicate, and ability to exploit. Resources that have all four of those characteristics can be used to form sustainable competitive advantages.
Construct a 2-3 page paper, based on the four characteristics of a product with potential for sustainable competitive advantage and based on the research you conducted; identify and discuss a company that does an effective job of utilizing these resources in the competitive marketplace. Also describe the product in relation to the four characteristics of sustainable competitive advantages.
Explanation & Answer
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Apple’s Competitive Advantage
Competitive advantage refers to the edge a company gains over other similar enterprises
in terms of sales, internal culture, and product characteristics. In terms of products, there are
certain aspects that allow an organization to excel beyond the rest, and flourish where they would
fail. These characteristics are; rarity, value, ability to duplicate, and ease of exploitation, each of
these are discussed in the subsequent sections of the paper. Several companies, virtually all,
strive to come up with uniqueness in production, and idea implementation, a specific example
being Apple Inc. This is the corporation that would be discussed in this paper as an example of
exemplification of the four characteristics that provide a com...
