Hi Lucy, interesting question which I’m only going to be able to cover off at a surface level. So competitive advantage is when an organization acquires or develops an attribute that allows it to out perform its competitors, this might be technology, manufacturing processes, or indeed its human resources. Competitive advantage can be purchased, indeed we see it happen quite regularly particularly within the tech industry with a larger firm buying up smaller firm(s). Most often however its created in-house, the employees commit to the overall goals and ideals of the organization, and develop something that will enhance that organization. So from this perspective, employee involvement and communication is where competitive advantage actually starts – employees are the roots of competitive advantage (there are some examples of where founders have created that competitive advantage, but I think for the most part it comes from the employees simply due to the numbers of employees vs company founders). Once a competitive advantage is present, then it still needs to be nurtured, and this happens again through employees being involved. Thanks for the question Lucy, really enjoyed answering that for you.
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