advantageous

(adjective)

Being of advantage; conferring advantage; gainful; profitable; useful; beneficial; as, an advantageous position.

Related Terms

  • Absolute advantage

Examples of advantageous in the following topics:

  • Absolute Advantage Versus Comparative Advantage

    • Absolute advantage refers to differences in productivity of nations, while comparative advantage refers to differences in opportunity costs.
    • Absolute advantage compares the productivity of different producers or economies.
    • Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages.
    • Absolute advantage is important, but comparative advantage is what determines what a country will specialize in.
    • Country A has an absolute advantage in making both food and clothing, but a comparative advantage only in food.
  • advantages

  • Defining Absolute Advantage

    • A country has an absolute advantage in the production of a good when it can produce it more efficiently than other countries.
    • Absolute advantage refers to the ability of a country to produce a good more efficiently that other countries.
    • Absolute advantage differs from comparative advantage, which refers to the ability of a country to produce specific goods at a lower opportunity cost.
    • A country with an absolute advantage can sell the good for less than a country that does not have the absolute advantage.
    • Party B has an absolute advantage in producing widgets.
  • Competitive Advantage

    • Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry.
    • Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry.
    • Competitive advantage seeks to address some of the criticisms of comparative advantage.
    • Michael Porter proposed the theory of competitive advantage in 1985.
    • The 640GB drive has a competitive advantage over the 500GB drive in terms of both cost and value.
  • Defining Comparative Advantage

    • However, the accompanying table shows that Chiplandia has a comparative advantage in computer chip production, while Entertainia has a comparative advantage in the production of CD players.
    • It is important to distinguish between comparative advantage and competitive advantage.
    • Unlike comparative advantage, competitive advantage refers to a distinguishing attribute of a company or a product.
    • For example, having good brand recognition or relationships with suppliers is a competitive advantage, but not a comparative advantage.
    • Chiplandia has a comparative advantage in producing computer chips, while Entertainia has a comparative advantage in producing CD players.
  • Absolute Advantage and the Balance of Trade

    • Absolute advantage and balance of trade are two important aspects of international trade that affect countries and organizations.
    • Absolute advantage and balance of trade are two important aspects of international trade that affect countries and organizations .
    • Adam Smith first described the principle of absolute advantage in the context of international trade, using labor as the only input.
    • Since absolute advantage is determined by a simple comparison of labor productivities, it is possible for a party to have no absolute advantage in anything; in that case, according to the theory of absolute advantage, no trade will occur with the other party.
    • The European Free Trade Agreement has helped countries international trade without worrying about absolute advantage and increases net exports.
  • Multiple Sources of Advantage

    • One of the main goals of marketing planning and strategy is to produce multiple sources of competitive advantage in the marketplace.
    • For most businesses, one of the primary goals of implementing a marketing strategy is producing multiple sources of competitive advantage.
    • Thus, it is both possible and advantageous to have multiple sources of advantage to increase sales and maintain brand dominance in the marketplace .
    • Products that use cutting-edge robotics and information technologies can act as a source of competitive advantage for a company.
    • As a result, businesses can gain a competitive advantage by building a compelling and visually appealing website or social media business page.
  • Relationship Between Specialization and Trade

    • The traders decide on whether they should export or import goods depending on comparative advantages.
    • Rather than absolute advantage, comparative advantage is the driving force of specialization.
    • In sum, the producer that has a smaller opportunity cost will have the comparative advantage.
    • It follows that Bob will have a comparative advantage in the production of mustard.
    • Tom has the comparative advantage in producing ketchup, while Bob has the comparative advantage in producing mustard.
  • The Resource-Based View

    • To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile.
    • In many ways, business strategy aims to achieve competitive advantage through the proper use of organizational resources.
    • Inimitable – If a valuable resource is controlled by only one firm, it can be a source of competitive advantage.
    • This advantage can be sustained if competitors are not able to duplicate this strategic asset perfectly.
    • Describe the intrinsic competitive advantage defined by the resource-based view strategy
  • Advantages of Leasing

    • The main advantage of leasing lies in a business' ability to attain assets without outlaying essential cash.
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