Explain how your current (or previous) firm (or organization) is positioned to compete against its rivals: Cost or benefit leader? Broad or narrow focus? Describe the distinctive resources and capabilities that your firm has; and how those capabilities are leveraged to fit its strategic position in the industry. Be sure to contextualize the industry in which your firm competes. What is the market concentration or industry structure? Who are the buyers; sellers; suppliers; rivals; potential entrants; firms producing substitutes? What forces are particularly strong and how does your firm’s positioning weaken these forces? Discuss whether your firm can sustain its competitive advantage. Which of the isolating mechanisms (i.e., impediments to imitation or early-mover advantages) will be key to its long-run profitability?
Embrace this paper as an opportunity to read broadly about your industry and to interview your firm’s owners or managers to gain insight into how your firm’s activities and resources differ from rivals.