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The Building Blocks of Competitive Advantage

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by

Cindy Rymer

on 25 November 2014

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Transcript of The Building Blocks of Competitive Advantage

The Building Blocks of Competitive Advantage
How to get to the top!
Four Building Blocks
Efficiency
Quality
Innovation
Customer Responsiveness
Competitive
Advantage
Superior
Efficiency
Efficiency
A comparison of the quantity of inputs required to produce an output.
Quality
The standard of something as measured against other things of a similar kind; the degree of excellence of something.
Customer Responsiveness
Superior Customer Responsiveness
Superior Innovation
Superior Quality
Process Innovation
When a company develops a new method of producing goods and services.
Product Innovation
The process of translating an idea or invention into a good or service that creates value or for which customers will pay.
Customer responsiveness is the ability of a business to recognize and respond to changing customer needs.
Full transcript