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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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Competitive Advantage

Competitive Advantage

(p.50) 7 Competitive Advantage
The Business of Economics

John Kay (Contributor Webpage)

Oxford University Press

Using the example of six British supermarket chains, competitive advantage is explained and quantified. When there is no explicit comparator, competitive advantage can be measured in relation to the marginal firm in the industry. In other words, the weakest firm that still finds it worthwhile to serve the market provides the baseline against which the competitive advantage of all other firms can be set. Architecture, innovation, and reputation are reviewed as the main sources of competitive advantage.

Keywords:   architecture, Britain, competitive advantage, core competencies, distinctive capabilities, innovation, reputation, resources, strategy, supermarket chains

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