Boeing: Include an overview of the industry dynamics, including a competitive analysis of the industry. Most firms' annual reports include some discussion of the competitive environment. A group of peer companies should be developed for purposes of a competitive analysis. The "Porter's Five Forces" framework for industry analysis is an effective tool for examining the health and competitive intensity and of an industry. Additionally, production capacity levels and pricing are important considerations, as are the distribution and stability of market share. It is important to note that there are different paths to success. Strength of brand, cost leadership, and access to technology or resources that are protected are just some of the ways in which companies set themselves apart from the competition. Famed investor Warren Buffett describes a firm's competitive advantage as an economic "moat." Buffett has said, "In business, I look for economic castles protected by unbreachable moats."