Perceived versus Actual Competitive Advantage
Langemeier, Michael R.
Cost Efficiency, Competitive Advantage, Farm Management, D24,
This paper examined the relationship between farm characteristics and perceived sources of competitive advantage, and cost-based and revenue-based efficiency indices. Gross farm income and the percentage of labor devoted to crop production were significant and positively correlated with cost and revenue efficiency while the perception of the cowherd being the most important part of the operation was negatively correlated with efficiency. In general, perceived sources of competitive advantage were not significantly correlated with cost or revenue efficiency.