Strategic Planning Kit For Dummies®, 2nd Edition

Chapter 5

Focusing on What You Do Best

In This Chapter

• Determining unique strengths that are the basis for your strategic plan
• Identifying what activities are core to your company's growth
• Knowing what activities set you apart from your competition
• Figuring out how to develop and sustain your competitive advantages

Businesspeople and laymen alike throw around the term competitive advantage like it's the most common phrase in the English language. The term is not only widely overused but also widely misunderstood. You aren't alone if you've ever wondered what a competitive advantage really is and what you do with it.

Think of your competitive advantage as your organization's DNA — a collection of genes and attributes that makes you unique. When you're capitalizing on your uniqueness, you're healthy, fit, and successful. When you aren't, you feel uncomfortable and slow, and you're exerting more effort than you should.

In this chapter, I strive to not only clear up any confusion you may feel but also help you uncover your competitive advantage and show you how to use the advantage in your planning process and for business sustainability.