Braslina, Liga; Viksne, Kaspars; Cumakovs, Andrejs; Batraga, Anda
May 2014
Economic Science for Rural Development Conference Proceedings;2014, Issue 35, p34
Academic Journal
Nowadays, in the times of globalisation, competitive business environment, market saturation, and the increased consumer power, the client becomes increasingly more definitive in manufacturer's and client's interrelations. Therefore, an efficient satisfaction of client needs becomes increasingly significant in achieving business success. Driven by all these forces, the companies are looking for opportunities to define and develop their competitive advantages. There are developed various methodologies how to determinate competitive advantage. Various scientists have given their input to polish and clarify methodology routes to determinate competitive advantage but the authors of the article challenge achievements still far and propose new input, based on theoretical base, expert surveys, and empirical experience. The aim of the article is to provide effective methodology of company's competitive advantage determination. The tasks of the article are: 1) to inspect various approaches or competitive advantage determination; 2) to evaluate most recognisable opportunities of competitive advantage determination; and 3) to introduce and evaluate new competitive advantage determinant model. Research methods: theoretical observation of existing competitive advantage determinant methods, expert survey of 35 entrepreneurs and representatives of executive management, representing international companies. Research object: competitive advantage determination models. Research subjects: competitive advantage and its constituent components. Hypothesis: existing competitive advantage determination methods are rather too generic or too academically complex to be applied in empirical cases. The empirically useful and effective way to determine competitive advantage is to follow nine logical steps that are defined in the competitive advantage Iceberg model developed by the authors.


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