Page 231 REVIEW ARTICLE Vol.4.Issue.4.2017 Oct-Dec INTERNATIONAL JOURNAL OF BUSINESS, MANAGEMENT AND ALLIED SCIENCES (IJBMAS) A Peer Reviewed International Research Journal Building Competitive Advantage: A Strategic Tool for Global Competition Dr. Talluri Sreekrishna 1 , Dr. Shaik Mabunni 2 1 Associate Professor, Department of Management Sciences, RVR & JC College of Engineering, Chowdavaram, Guntur, Andhra Pradesh. tsreekrishna@gmail.com 2 Assistant Professor, Department of Management Sciences, RVR & JC College of Engineering, Chowdavaram, Guntur, Andhra Pradesh. Mabunni_mba@rediffmail.com ABSTRACT Today we are in the world where business organizations dominate global economies. Companies operate under heavy competition and to survive they need to perform little extra than the competitor to give them that edge called Competitive Advantage. Competitors that make their living in the same ways can’t coexist, no more in business then in nature. A company must be different to have a unique advantage. If you consider organizations like Wal-mart, Tata, Reliance, you see this competitions played out. Each continues to survive, in some cases to go significantly. They have done so differentiating themselves. They have shaked out a position that they feel gives them competitive advantage in the eyes of the customer. Strategy is a search a plan of action, which will give you, your company and your product a competitive advantage. This begins by first looking at where you are and what you have at this point in time. The competitor who is most like you is your most dangerous competitor. The differences you uncover between you and that competitor are the basis of your competitive advantage. Whatever the company or product strength one must find a position in the product business areas where you can best defend yourself and your product. The purpose of this paper is to explore the relationship between Competitive priorities and competitive advantage and discuss different perspectives and approaches related to competitive advantage. Keywords: Competition, Organizations, Competitiveness, Competitive Advantage. Introduction Globalization improved trade liberalization among nations that alter the historic patterns of investment, production and distribution of firms and organizations. While organizations are internationalized, strategic planning becomes an important tool for the growth of the firm, the improvement of competitiveness and the configuration of competitive advantage against other enterprises-competitors. At present the way in which customers, suppliers and enterprises interact