What is competitive advantage?

What will be the 10 most important areas of competitive advantage for 21st-century businesses?

• Some would say it varies dependent on what business you are in. True! But could we try to boil it down anyway. What are the most important areas in which Apple, Starbucks, Skype, Whole Foods, Amazon and the local bakery creates competitive advantage? Here a few suggestions to get you started; does these make sense? Which dimensions are missing? Meaning (A higher purpose of the company/product) Authenticity (Creates sympathy and emotional connection) Disruptive products (creates a new product category or a radically better one) Disruptive business model (Changes the game and the business model) Superior service (Creates fans and earned communication) Convenience/pleasureability/ease of use (Customer feels in control) Personalization / customization (Fit to individual needs or makes customer feel special) Sustainability / Biodynamic (people are willing to pay a premium to be sure the product is sustainable) Transparency (people expect companies to be their friends and friends share most of their life and thoughts) Please help by joining the brainstorm...

• Answer:

  I think it's pretty simple. Measure every aspect of your business, analyze the data in real time, and make changes and modifications on the fly. The closer you can get to that, the greater your competitive advantage.