3.

Explain how quality and competitive advantage are related

The relationship between quality and competitiveness is that the higher the organization's
functional quality, the more efficiency, and the more competitive edge it will have in the
market. Everything would go smoothly as long as the company remains competitive in the
industry.

What is competitive advantage?

A competitive advantage enables a company to perform better than its competitors. It

refers to factors allowing a company to produce services or goods better or for less expense
than the competition, which may generate more sales or higher profit margins. To be
successful, a company's competitive advantage must generate value for its stakeholders and
be difficult for others to reproduce.

Companies could have a variety of competitive advantages, including:

 Cost structure
 Product quality
 Branding
 Customer service
 Intellectual property
 Distribution network

There are six types of competitive advantage you can make use of:

 Differential: This advantage means you offer products with a more unique benefit
than the competition, such as better quality or quicker service.
 Cost-leading: This advantage involves the production of goods or services equal to
competitors but offered at lower prices.
 Market-focused: This advantage targets pre-defined markets instead of one large
market to reach a specific demographic.
 Brand: This advantage encourages brand loyalty by offering a unique or superior
brand with image, positioning and strategies, or by continuously updating features.
 Network: This advantage refers to subscription services using member benefits or
bonus incentives.
 Resource: This advantage refers to a company's edge because of limited access to
resources or materials for production.

What is the purpose of competitive advantage?

The purpose of having a competitive advantage is to distinguish a company from its

competitors by offering something different and of superior value to its customers.
Competitive advantage also means the business can outperform its competition in the
market and make a higher profit.
4. How personal values impact quality.
There is a relationship between quality and personal values. Quality is often associated with
how closely something meets or exceeds the customer's expectations. Personal values are
those that are most important to an individual. Quality management demands that
managers constantly assess and improve the quality of their products or services. They need
to have strong personal values that guide their decision-making to do this effectively.