Re-Making Communication: The Competitive Advantage of the Twenty-First Century

Abstract

The term “competitive advantage” refers to any factor(s) that can be leveraged to stand out, get ahead, and win in a given pursuit. In business, competitive advantage matters significantly when you are operating in a climate of hypercompetition with ever-increasing costs of doing business. Knowing and using your competitive advantage wisely in the marketplace can make the difference between innovation and growth, or decline. When it comes to identifying competitive advantage, leaders often ask questions that set them apart from their peers such as: what do we know how to do, that they do not; what resources or technologies do we have, that they do not; what do we understand about the market, that they do not; and what do our customers love about us, that they cannot find anywhere else? We can refer to questions like these as the search for competitive advantage in the form of things.