A firm's ability to achieve market and financial superiority over its competitors is called _____.

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Competitive advantage refers to a company's ability to outperform its competitors in terms of profitability, market share, customer satisfaction, or other key performance indicators. It is achieved by developing strategies that create unique value for customers, such as offering high-quality products, low prices, superior customer service, or innovative features that differentiate the company from other players in the market. Strategic planning and operations strategy are important elements of achieving competitive advantage, but they do not directly refer to the company's ability to beat its rivals. Competitive priority is a concept related to operations strategy, which refers to the specific objectives that a company wants to achieve in terms of cost, quality, delivery, flexibility, or innovation.

A Firm's Ability to Achieve Market and Financial Superiority Over