What are the types of competitive advantages?
| October 26, 2020 | Education
Cheap factors of production are short-lived competitive advantages. Their fragility is associated with the volatility of market prices.
A long-term advantage is the possession of a unique technology, a famous brand, the release of unique products, the availability of rare resources, and the attraction of the most qualified specialists in the industry.
Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.