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I want clarification
Strategic Management
different between key factors of competitive success and competitive advantage
Answers (1)
Key factors of competitive success are those things that most affect industry membersâ?? ability to prosper in the marketplace. Like for cloth manufacturing, these factors could be appealing designs, color combination etc. Competitive advantage is what enables a particular firm to propser more. It is specific to firm. It could include some key factors that a firm does very well (like world-class manufacturing capacities) and there could be some other factors like founder's past experience in the sector, backward / forward integration etc.
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