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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
Smaller individuals will hence be at a competitive advantage with respect to exploitative competition.
The ability to deliver and prove high levels of performance is no longer just a competitive advantage.
Furthermore, the lost time may result in a competitive advantage for rivals.
All it means is that the source of competitive advantage from technology is not in terabytes or gigaflops any more.
Consequently, in the bid for competitive advantage, organizations have downsized, restructured, merged or acquired.
This means that Bulgarian organic farmers have a good competitive advantage on European markets.

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