What is Your Competitive Advantage?

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Jack Welch, former CEO of General Electric, once said, "If you don't have a competitive advantage, don't compete."

The sole purpose of strategic thinking is to enable a company to gain, as efficiently as possible, a sustainable edge over its competition. This implies an attempt to alter the company's strengths relative to that of its competitors.

The corporate leader must isolate strategic technical and marketing strengths (absolute versus relative strengths) to determine how to compete wisely in gaining significant ground on its competitors at an acceptable cost to itself.