For long term maintenance of competitive advantage, a firm must ensure that its methods cannot be duplicated or imitated. This requires constant analysis and regular reinvention of competitive strategies.
When submitting my concepts to invention hunts, licensing agents, manufacturers, retailers, engineers, and the patent office, I was asked many different kinds of questions. The questions ranged from "What problem does it solve?" to questions that required extensive research such as "Who is your target market?"
Without a plan, there is little hope for growth, let alone survival. As my small business development counselor, Terry Chambers says, "If it's not written, it's not real." That doesn't mean it's unchangeable, but it does show that you mean business. In order to accomplish your strategies of improving efficiency, increasing volume, and reorganizing your business, you've got to examine what you have, what you want, and how you plan to get there.
The main thing to remember in this section is not to provide new data, but to explain in detail data that has already been provided and to provide the support for that data.
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