Industry and Competitive Strategy

Describe the industry and the competitive strategy; focus on the solution you will offer.

Describe the industry in terms of the type of business, competitors, suppliers, and other
relevant organizations (for example, standardization committees or government) as far as
applicable.

The competitive strategy refers to how a company competes in a particular business and
how it can gain a competitive advantage. Identify existing (or potential) competitors and
partners and explain why your idea provides a suitable opportunity to generate a profit.

Criteria – Venture: Your description of the opportunity, business model, strategy, resources
and team shows a comprehensive understanding of the market and competition.

Criteria – Theory: Your application of the theory shows Evidence of superior, comprehensive
and deep knowledge of the relevant unit theory by using models such as Timmons’ Model,
Business Model Canvas, Blue Ocean Strategy, SWOT Analysis, 5 Forces, and others (if
applicable).
Resources

Identify all of the initial resources you have available for the venture. Briefly explain how they
contribute to the venture and their value to the venture and how make them available.

Note that successful entrepreneurs try to minimize and control, not maximize and own.
They devise ingeniously creative and stingy strategies to marshal and gain control of
resources. Doing more with less is a successful competitive weapon.

Criteria – Venture: Your description of the opportunity, business model, strategy, resources
and team shows a good understanding of who and what is required to launch the venture.