Contents
Title
Identifying Competitive Advantages for Territories
Author
Yana Balashova-Kostadinova,
Classification JEL
M31
Abstract
Territories like businesses struggle in an ever stronger competitive environment. The opening of markets and the free transfer of information about every spot in the world to every spot on Earth almost instantly as well as the easy movement of people makes it very important for territories to promote themselves. They compete not only as destinations in tourism related aspects but also as places to live in, work in and develop your business in. It’s no wonder that territories start to adopt business techniques to let them thrive in this environment. Territories are certain areas with their own already set resources like natural resources, historical sights, special products, created only there, specifically-skilled people, specific traditions, food and so on. Advantages are usually derived from attributes that allow a territory to outperform its competitors and strategic management should be concerned with building and sustaining these advantages. This article will attempt to find ways of accurately identifying the advantages of a territory, classifying them as competitive or comparative in order to find ways and approaches of using them as means to developing and marketing the territory as a whole while attempting to satisfy all stakeholders’ needs and wants.
Keywords
Competitive advantages, territories.
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