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Industry Analysis
Learn what industry analysis is and how to use it to gain a competitive advantagePreview the first lesson free — get full access to all 5 lessons.
Intermediate Provider : Terry Cornelison 5 Lessons · 17m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
A company’s relative position within its industry is important to optimizing performance. Finding the best position for your company within your industry is called strategic positioning. It includes identifying the core values of your company, the vision and mission of your business, and your core capabilities and competencies. One of the best tools for evaluating your position within your industry is a method that examines four basic industry positions, including cost leadership, differentiation, cost focus, and differentiation focus. A competitive advantage is what sets you apart from the competition and enables you to achieve market share in your industry. The four common forms of competitive advantage include company culture advantage, differential advantage, cost advantage, and focus advantage.
In this course, you will learn what industry analysis is, why it is important that your company conduct one, how an industry is defined, and how to determine which industry or industries your business operates in. You will also discover how to use strategic positioning and a competitive advantage to optimize your business for success.
What You'll Learn
- Define what an industry analysis is and why a company should conduct one
- Determine how an industry is defined and which industry or industries your business operates in
- Apply strategic positioning by identifying your company's core values, vision, mission, and core capabilities and competencies
- Evaluate your position using the four basic industry positions: cost leadership, differentiation, cost focus, and differentiation focus
- Assess competitive advantage across its four common forms: company culture advantage, differential advantage, cost advantage, and focus advantage
Key Takeaways
- A company's relative position within its industry is important to optimizing performance.
- Strategic positioning means finding the best position for your company within your industry and includes identifying its core values, vision, mission, and core capabilities and competencies.
- One of the best tools for evaluating industry position examines four basic positions: cost leadership, differentiation, cost focus, and differentiation focus.
- A competitive advantage is what sets you apart from the competition and enables you to achieve market share in your industry.
- The four common forms of competitive advantage are company culture advantage, differential advantage, cost advantage, and focus advantage.
Frequently Asked Questions
What will I learn in this course?
You will learn what industry analysis is, why it is important for your company to conduct one, how an industry is defined, and how to determine which industry or industries your business operates in. You will also discover how to use strategic positioning and a competitive advantage to optimize your business for success.
What is strategic positioning as covered in this course?
Strategic positioning is finding the best position for your company within your industry. It includes identifying the core values of your company, the vision and mission of your business, and your core capabilities and competencies.
What are the four common forms of competitive advantage discussed?
The course covers four common forms of competitive advantage: company culture advantage, differential advantage, cost advantage, and focus advantage.
What topics or lessons does the course include?
The course includes an Introduction, What Is an Industry Analysis?, Know Your Business Requirements, Understanding Competitive Advantage, and a Test Your Knowledge section.
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