Strategies for Competitive Advantage

Abstract

Home Depot opened its first store in Atlanta in 1978 before expanding from Georgia into Florida and from there into the rest of the United States. North Carolina–based Lowe’s began to respond to the new competitive threat of the Home Depot warehouse stores in the early 1990s, converting the majority of its retail centers into a similar warehouse format. Competitive advantage is the object of strategy and of strategic effort. Competitive advantage occurs because a particular firm has some specific value-generating capability that other competing firms do not possess or cannot immediately replicate or substitute with an alternative. Competitive advantage is thought to be a reflection of resource value. Customers reveal their determinations of value and their judgments about competitive advantage in their purchases.

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