All companies will strive to have a competitive advantage. Three different strategies a company can look through to achieve this are through: differentiation, cost leadership, and response.

• Note that a company does not need a competitive advantage is all three strategy types, only one is needed (if they have multiple- kudos to them)!

Table 2.8 does an excellent job of illustrating tangible ways Southwest Airlines achieves a cost leadership competitive advantage. They had a strategy in mind and then leveraged a strong operation management program to decide what practices would be put in place to achieve it.

What I am looking for:

• A brief explanation of what a competitive advantage is and a specific example of each strategy listed above. Feel free to use actual companies and how they achieve the competitive advantage.

• Regarding Table 2.8, I want you to rank the 6 specific targeted areas regarding which you think has the highest impact on creating a low-cost competitive advantage to the lowest impact with a brief reasoning for each and why it is where it is on your standing.
  • This is subjective! Please dont think Im looking for a specific lineup of what is most impactful, and which is least impactful. My goal is for you to take some time to evaluate each, understand the tangible benefits it can have regarding cost savings, and then decide which would be top of your list to execute.

1.A brief explanation of what a competitive advantage is and a specific example of each strategy listed above. Feel free to use actual companies and how they achieve the competitive advantage.

2. the 6 specific targeted areas regarding which you think has the highest impact on creating a low-cost competitive advantage to the lowest impact with a brief reasoning for each and why it is where it is on your standing.

Fidure 2.8