sustainable (adjective, sus-tain-a-ble, \ səˈsteɪnəbəl \) competitive (adjective, com-pe-ti-tive, \ kəmˈpet̬ət̬ɪv \) advantage (noun, ad-van-tage, \ ədˈvænt̬ɪdʒ \)
Definition: is a long-term advantage, which allows a business or a company to remain more successful than the competitors over the long course of time. It is not easily duplicable and cannot be surpassed by the competitors in short order. Such advantages help a business appear more favorable in the eyes of consumers when being compared with the competitors. They include moderate pricing, powerful and trusted brands, effective marketing, valuable strategic assets (trademarks, domain names, patents, copyrights, etc.), unique products, strong balance sheet (low or no debts and stable cash inflows), adapted product line, excellent management and human resources, and so on.
In a Sentence:
- Because of all the efforts and the hard work, we had a sustainable competitive advantage on the market.
- If you wish to have a sustainable competitive advantage for a long period of time, you ought to come up with some new ideas. Your business methods are quite old-fashioned and can’t work these days effectively.
Synonyms and related words: competitive advantage, business strategy, core competency, cost leadership
