Final answer:
The ability to deliver a product or service faster than the competition is called competitive advantage.
Step-by-step explanation:
The ability to deliver a product or service faster than the competition is called competitive advantage.
Having a competitive advantage allows a business to stand out in the market and attract customers. It can be achieved through various means, such as improving efficiency in production, implementing innovative technologies, or optimizing supply chain management. For example, Amazon has achieved competitive advantage by developing a highly efficient logistics system, allowing them to deliver products quickly to customers.
By delivering products faster, businesses can gain a larger market share and potentially earn higher profits. However, it's important to note that competitive advantage is not always solely based on speed. Other factors like quality, price, and customer service also play a crucial role in gaining a competitive edge.