D 2024

Competitive advantage of startups in business

TÓTHOVÁ, Veronika and Milan FIĽA

Basic information

Original name

Competitive advantage of startups in business

Authors

TÓTHOVÁ, Veronika and Milan FIĽA

Edition

Praha, p. 170-183, 2024

Publisher

NEWTON College

Other information

Type of outcome

Proceedings paper

Confidentiality degree

is not subject to a state or trade secret

Publication form

electronic version available online

References:

Organization unit

NEWTON University

ISBN

978-80-87325-72-8

Keywords in English

Startup; Competitive advantage; Business; Entrepreneurship

Tags

Reviewed
Changed: 18/3/2025 12:32, Ing. Veronika Tóthová, PhD.

Abstract

V originále

Recently, the word startup has become a frequently inflected word in the business environment. And although many are “born” every year (50 million), very few live to see their first year of life (1 of 10). However, how to overcome this difficult period and stay on the market despite the high competition probably worries all entrepreneurs. For startups, it is much more important, precisely because it is an enterprise in its beginnings and also a rapidly growing business, disrupting established business concepts and often dealing with the basic problems of business survival. So it is important to find something that helps you to stand out from the crowd and better your position on the market. This “something” is known as a competitive advantage, which helps a business to outrun the competitors and can lead to better profit margins and market control. But to earn and keep it it can only be done through the hard work, dedication, and ethical performance of an organization. The main goal of the article is to evaluate what the competitive advantage of startups from the experts’ overview is and how they perceive their competitiveness. To reach the paper’s objective and obtain an answer to this question, we used comparative analysis to analyse various scientific and professional documents, analyses, studies, and statistics dealing with this issue and we used their comparison to synthesize the knowledge gained within the given paper. In this article, we focus on the concept of competitive advantage and its benefits for startups. Based on the methods used in creating this paper we identified, with the help of other authors, the key competitive advantages of startups, which include orientation to 1 product or service, high-tech orientation, orientation to a potentially fast-growing market, or team agility and learning.