The term "competitive edge" refers to a situation where one company or individual has an advantage over their competitors in terms of products, services, technology, marketing strategies, pricing, or other factors that give them an upper hand in the market. This can lead to increased sales and revenue, as well as greater success overall. The concept of having a "competitive edge" is important in business because it allows companies to stay ahead of their rivals by constantly innovating and adapting to changes in the industry.