2024
Competitive advantage of startups in business
TÓTHOVÁ, Veronika and Milan FIĽABasic 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.