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What is a competitive advantage?

What is a competitive advantage? Here are some definitions.

Noun
  1. something that places a company or a person above the competition
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Examples
Also, large producers are loath to green their products unless they see a competitive advantage to doing so.
Furthermore, the lost time may result in a competitive advantage for rivals.
The cattle barons dominated because without property rights the biggest operations gained all the competitive advantage.
Consequently, in the bid for competitive advantage, organizations have downsized, restructured, merged or acquired.
The ability of existing firms to profitably gain and maintain market share indicates a competitive advantage.
However, when foreign competitors do not follow these good standards they gain competitive advantage because they can produce goods cheaper.

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