Discussion: Selecting a Tool for Competitive Analysis
Through this week’s Learning Resources, you further examined the concept of competitive advantage and explored some competitive analysis tools and models. With a new understanding of what is meant by competitive advantage, it is important to be able to conduct a competitive analysis to assess an organization’s market position. In choosing a competitive analysis tool, you may have realized that there are many options. Some tools may be more applicable for certain circumstances, and personal preferences may determine the use of one tool over another.
In this Discussion, you will identify a competitive analysis tool and examine aspects of the tool that make it more effective than other tools. You will also suggest any improvements that could be made to increase the effectiveness of the tool.
To prepare for this Discussion:
- Review this week’s Learning Resources, focusing on the competitive analysis tools that are presented.
- Identify the competitive analysis tool that you believe to be most effective and consider any additional improvements or modifications you would make to it in order to increase its effectiveness.
- Review the Academic Writing Expectations for 2000/3000-Level Courses, provided in this week’s Learning Resources.
By Day 3
Post a 225- to 375-word (3- to 5-paragraph) appraisal of which competitive analysis tool you think would be most useful in analyzing a company in order to create a competitive advantage. In your appraisal, do the following:
- Identify the tool that you selected and explain why you selected it.
- Examine the circumstances in which this tool might be more effective than other options.
- Identify improvements or modifications that might be made to the tool selected to improve its effectiveness.
- To support your response, be sure to reference at least one properly cited scholarly source.
Refer to the Week 6 Discussion Rubric for specific grading elements and criteria. Your Instructor will use this grading rubric to assess your work.
Read some of your colleagues’ postings.
By Day 5
Respond with at least 75 words (1 paragraph) each to two or more of your colleagues’ postings by doing one of the following:
- Suggest an alternate analysis tool to that of your colleague’s and provide a rationale for why it could be effective.
- Propose additional modifications or improvements to your colleague’s selected tool that might improve its effectiveness.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you have learned or any insights you have gained as a result of the comments your colleagues made.