Chapter 2: Identifying Competitive Advantage

Well hello there :)

     So in this blog I'll be explaining about a few important tools to analyze competitive intelligence and develop competitive advantages which are:

1. The five forces model
2. The three generic strategies.
3. Value chain analysis.

       Well be for i go any further, i should first explain the definition if competitive advantages  and competitive intelligence.
              Firstly, competitive advantages is a feature of a product or service on which customer place a higher value on other similar offerings from its competitors and then we have competitive advantage that is the process of gathering information about the competitors activities, plans, and products. This reminsd me of an old saying....

"Keep your friends close, but keep your enemy closer"

     Alright than, off to the first tool that is the five forces model. So this weeks post will be a little bit different because there will be less of writing and move of videos to explain the following tools :) So you're in luck.
       Back to topic, who better to explain on the five forces model then him self,
 Mr. Michael Porter...

 

 

         The next step, once you have evaluate the attractiveness of an industry...the the next step is to choose a business focus with the help of the three generic strategies....

Here is another video for the generic strategies...it is somehow a little bit different then one in the text book, but it is more understandable...so enjoy! :D

  LAST but not least...the last tool is the value chain analysis. This tool is more to execute business strategies...

 

Hope all these videos has given you at least a brief idea on these three tools. Have and amazing weekend! :D bubye!