Competitive Advantage Final Assessment: Outline and Rubric Competency Name: Competitive Advantage Competency Statement: Demonstrate knowledge of competitive advantage and strategic positioning. Final Assessment Submission Title: Competitive Advantage Paper Competency Objectives: Program Learning Outcomes: NA 1. Demonstrate an understanding of ways to create low-cost competitive advantage through value-chain. 2. Develop an understanding of ways to create competitive advantage through quality management. 3. Develop an understanding of ways to create competitive advantage through innovation. 4. Develop an understanding of ways to create competitive advantage through customer focus. Institutional Learning Outcomes: ILO 2- Innovation and Creativity: Construct a novel or unique idea, question, format or product. Purpose of this Assessment In this assessment, you are expected to demonstrate knowledge of competitive advantage and strategic positioning. You should clearly evaluate and prioritize the competitive advantage options, providing an evidence-based rationale for the prioritized list of competitive advantages. You are expected to demonstrate your ability to apply the concepts to a business of your choice, integrate ideas from alternative perspectives, and use innovative thinking strategies. You may use a new venture or an existing privately owned business you identified in the Strategic Fundamentals and Environment competency, if you wish. Items Required for Submission The item for submission is a 5 to 8 page Competitive Advantage paper that follows APA guidelines. Please note: The title page and reference page are not included in the page count. Also, an abstract is not required for this assignment. Step ONE: XXX ● Determine a topic and related research question that addresses competitive advantage, and justify the strategic positioning of a new venture or existing privately owned business in your community. ● Conduct research and locate articles or scholarly sources on the concepts of strategic positioning, market conditions, competitive advantage, target market, and segmentation. You will need these sources to support your discussion on the competitive advantage of the 1 Final Assessment: Outline and Rubric Competitive Advantage Final Assessment: Outline and Rubric company you have selected. Visit the UMass Global Library for resource options and support. Step TWO: Competitive Advantage Paper Use the information from the competency and the sources you researched to support your discussion. Include each of the following sections in your Competitive Advantage Paper, using at least 5 references. A. Industry Analysis: Describe the industry your new venture occupies by showing sophisticated, innovative thinking using information and concepts from the competency and your research. B. Market Conditions: Describe the successes and failures within the market space that you want to occupy. Discuss the implications of the success and failures on the business. C. Competitive Advantage: Describe five competitive advantages of your new business D. Business Plan Descriptions: Provide information for the HOW, WHY, WHAT, WHEN, and WHERE of your Business Plan. This business plan is connected to the Strategic Fundamentals and Environment competency. If you choose not to use the same business, you still need to discuss the HOW, WHY, WHAT, WHEN AND WHERE of the new business. E. Target Market: Describe your target market and explain how the target market demographics are changing (e.g., older, richer). Discuss how the changes in the demographics could impact the business. F. Segmentation: Describe the segment of the population you are going to target; use three criteria for each target, and explain why you chose those targets. G. Conclusion: Summarize in one paragraph why your product has a competitive advantage. Step THREE: Checklist for Submission Before you submit, check to see if you believe you have met the criteria noted below. Did you…. ✓ Demonstrate sophisticated, innovative thinking in drawing the information and sources from your research? ✓ Apply the research to the concepts? ✓ Provide comprehensive, detailed, and well-researched information for the required sections of your competitive advantage paper, following all of the standards provided? ✓ Demonstrate APA academic writing and a sophisticated presentation of all material, displaying clarity, conciseness, and correctness?
