About this Course
A competitive advantage is the ability to stay ahead of your present or potential competition. People typically gain a competitive advantage by evaluating the strengths and weaknesses of their competitors and seeing how you could improve your own performance to obtain an advantage.
To obtain a competitive advantage, you have to be clear about three things:
Benefit: You must know the real benefit that you have to offer, the real value that you bring to your organization in order to increase profits. This requires you to stay up-to-date on the latest trends and skills for someone with your position so you can continue providing value over time.
Target market: As an employee, your target market is your employer. You must know exactly what you can do to bring value to the organization.
Competition: In order to gain a competitive advantage, you must know your competitors. As an employee, your competitors are other employees and technology.
When you are interviewing, you communicate your competitive advantage through your resume, appearance and performance at the interview. Once you have obtained a job, you communicate your competitive advantage by continually exceeding expectations in the workplace.
How to gain a competitive advantage
Gaining a competitive advantage can set you apart from other applicants during a job search or position you for rapid career advancement and additional compensation. And while it’s important, working harder isn’t the solution to gaining a competitive edge. You must work strategically to lift yourself above the competition. Here are the steps you can use to gain a competitive advantage.
- Maintain your skills
- Add value to the company
- Develop new skills
- Improve interpersonal skills
- Communicate effectively
- Exceed expectations