1. Competitive Advantage
Definition: A __________ that sets an organization apart from competitors and gives it _______________________________________________________________________________.

2. Example: Sony has a reputation for high quality products
Example: Sony has a reputation for high quality products. This has become its competitive advantage.
What are some other ways companies could establish a competitive advantage?

3. Ways to achieve Competitive Advantage
Michael Porter says there are 3 to choose from:
Low Cost
____________
Differentiation