COMPETITIVE ADVANTAGES OF BUSINESSES

Abstract

The competitive advantage applies to a variety of reasons or capabilities that allow the company to compete better than its rivals. A total of 59 papers were analyzed in eight separate areas (strategic management, marketing strategic management, IT, information management, resource theory, entrepreneurship, and staff management).The results showed that among several available methods, majority of businesses employ Porter’s triple strategies (differentiation, centralization, and cost leadership) to gain competitive advantages. Among the triple strategies, the strategy of differentiation has drawn highest attention and simultaneous utilization of the three strategies is a rare case.