In such environ, it is important for an organisation to find a 'differential aspect' of its product or service in order to survive the market competencies, otherwise the organisation will be driven out of the business ruthlessly.
"Having a competitive advantage is like having a gun in knife fight". The paper explores this statement and illustrates the key factors through which a firm can attain this competitive gun while all the competitors remain fighting with their competitive knives. It goes for a gross understanding of the term 'competitive advantage', realising how it can be interpreted as 'a gun in the knife fight', plus analysing and examining a bunch of important issues underlying this concept.
The focus of this paper remains to be the factors that need to be addressed by an organisation in its quest to dig out a competitive advantage to create and maintain its position in the market that is unbeatable for its competitors in a specific point in time. There happen to be several areas where a firm can manage to obtain a competitive advantage against its competitors. These areas are discussed in this paper with the help of the literature available on the given subject.
"Having a competitive advantage is like having a gun in a knife fight". Consider a fight in which everybody has got a knife as weapon and using it in all ways to win the battle. ...