Kindly help with the given questions.
Question 1. What is competitive advantage and how do you measure it?
Question 2. What does "value chain" mean and how does it relate to competitive advantage? Identify strategies that can be used for cost advantage.
Question 3. What is differentiation? Give examples of differentiation in the IT industry.
Question 4: What are the characteristics of offensive and defensive competitive strategies?
One or two paragraphs for each question above.
Please also include scholarly references.