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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
The ability to deliver and prove high levels of performance is no longer just a competitive advantage.
The cattle barons dominated because without property rights the biggest operations gained all the competitive advantage.
However, when foreign competitors do not follow these good standards they gain competitive advantage because they can produce goods cheaper.
All it means is that the source of competitive advantage from technology is not in terabytes or gigaflops any more.
Also, large producers are loath to green their products unless they see a competitive advantage to doing so.
This means the day-long event will provide quality information about how to leverage IT for competitive advantage.

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