Activity: Connecting the Dots

An image of a connect the dots drawing

Required Preparation

Before this activity, please complete the following:

  1. Read the assigned reading “Sustaining Competitive Advantage”.
  2. Complete the corresponding Canvas quiz.

Description: This activity helps you solidify your understanding of important levers available for a business manager to sustaint competitive advantage. Working in groups, you’ll randomly select five concepts from a provided set and engage in a structured discussion to explore their definitions, relationships, and real-world applications. You’ll then share your insights with the class, contributing to a collaborative learning environment.

Learning Objectives

By the end of this activity, you will be able to:

  • Recall and define key concepts related to sustaining competitive advantage.
  • Explain the relationships between different concepts.
  • Apply the concepts to real-world business scenarios.
  • Communicate your insights effectively to the class.

Key Concepts

Taste-based loyalty First mover advantage Uninformed consumers Switching costs Network effects Complementors Platform businesses Cross-side network effects Same-side network effects Vertical heterogeneity Horizontal heterogeneity Learning curve Economies of scale Intellectual property rights Market failure

Steps:

  1. Concept Selection: Each group will randomly select five concepts from the set of concepts listed.

  2. Group Discussion: Discuss the following for each of the five selected concepts:
    • Definition: Define the concept in your own words.
    • Connection to Sustaining Competitive Advantage: Explain how this concept relates to sustaining competitive advantage.
    • Relationships: Identify any connections or relationships between this concept and other concepts in the set. Summarize why it matters.
    • Real-world Example: Provide a real-world example of how this concept applies in a business setting.
  3. Visual Representation: Create a visual representation (e.g., mind map, concept map) to illustrate the connections between the five concepts.
  4. Class Presentation: Share your group’s insights and visual representation with the rest of the class.

Self-assessment:

  • Active participation in group discussions.
  • Clarity and depth of insights shared during the class presentation.