The Nature of Competitive Advantage

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The Nature of Competitive Advantage

By | August 2010
Page 1 of 17
CONTENTS

INTRODUCTION…………………pg.3

DEFINITIONS……………………….Pg.4

EXTERNAL ANALYSIS pg.5
STEPP Analysis CONCEPTS
a. Socio-Cultural/demographic issues affecting business. b. Technological Factors
c. Economic factors
d. Political and legal factors
e. Physical/Environmental Factors

IDENTIFICATION OF INDUSTRIES OPPORTUNITIES AND THREAT pg.7

a) A Model For Industry Analysis- Porter’s Five Forces b) Rivalry
c) Threat Of Substitutes
d) Buyer Power
e) Supplier Power
f) Barriers to Entry / Threat of Entry
g) Generic Strategies To Counter The Five Forces

INTERNAL ANALYSIS pg.13

a) SWOT Analysis
b) Internal Marketing
c) Conducting a SWOT Analysis
d) Resources
e) Capabilities

CONCLUSIONpg.17
a) The Final Steps

REFERENCESpg.19

The Nature Of Competitive Advantage

INTRODUCTION
Almost everyone in business understands the principle of trying to offer something better than what their competitors are offering. Gaining an advantage is the key to success and even survival. But many of the so-called advantages that businesses rely on are not sustainable. They can be easily copied, stolen or negated. Real competitive advantages — things like brand name recognition, patented manufacturing processes or exclusive rights to a scarce resource — cannot be easily copied. Every company has a unique set of strengths, and it's critical that you determine yours, as well as your competitors'. Knowing your SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis helps you to see how your strengths stack up against your competitors' weaknesses and suggests ways to take advantage of marketplace opportunities. Have you ever made the wrong decision because...
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