In recent years, the competition in the manufacturing industry has become more intense, and the situation of manufacturing companies has become more difficult. This study chooses PT UNIHAN as a case study to understand the reasons why it still survives in the electronics manufacturing industry. This article is mainly based on interviews, supplemented by file notes and observations to collect data, through qualitative research, to analyze the latent variables that enable PT UNIHAN to gain a competitive advantage and how these latent variables promote its competitive advantage. Finally, the researcher found Lean supply chain management, cost control, continuous R&D, specialized engineers team, accommodating production capacity, quality control, aggressive exploring market segmentations, integrated management systems, focused human welfare are main nine factors contribute to PT UNIHAN competitive advantages. The researcher hopes this research can provide some references for the disadvantaged companies to enhance their competitive advantages. The mini-model theory can also be used as new references for academic research.