There are several types of strategic advantage that businesses can pursue:
Cost Leadership: Achieving the lowest cost of operation in the industry, enabling the company to offer lower prices than competitors. Differentiation: Offering unique products or services that command a premium price. Focus: Targeting a specific market niche with tailored offerings. Innovation: Continuously developing new products, services, or processes that set the business apart. Operational Excellence: Excelling in internal processes and logistics to deliver superior value.