How can you ensure that any competitive advantages you manage to carve out for your business are sustainable? While there are many competitive advantages such as speed to market, speed of delivery or even price, many can fall away quickly or be replicated by competitors. The answer comes in the form of leveraging technology. With technological innovation, your company can form a sustainable competitive advantage that can help cement your place as a segment or industry leader. But before we unveil what that looks like in practical terms, let's take a more detailed look at what counts as a sustainable competitive advantage. The Makings Of A Sustainable Competitive Advantage The first point to note is that there are many different types of competitive advantages. They are not merely limited to a few processes that you may execute better than a competitor. It could be operational excellence or product leadership, for example. Or your offering may deliver superior customer personalization. Regardless of your specific competitive advantage, it's crucial to note that most are unsustainable. That is, they will only last for a period of time. For instance, a first-to-market product only holds an inherent advantage until a competitor either creates something extraordinarily similar or the patent runs out. In contrast, sustainable competitive advantages are gained when a specific aspect of your business has an unfair advantage set to last well into the future. Warren Buffett has a keen eye for companies that have built such competitive advantages, describing these enterprises as having a "moat" around them. He dismisses so-called benefits such as "first-mover advantage." He looks deeper into investment opportunities for tangible advantages that cannot be replicated, such as unrivalled industry knowledge (trade secrets) or a technological advantage. Why Technology Holds The Key To Business Success Technology is helping reframe the business landscape. It's no longer a case of technology being an esoteric phenomenon that stands apart from specific companies and industries. Rather, every company should now be looking to become a tech company. As the distinction between those who make technology and those who utilize it vanishes, it will be the companies that use technology for a sustainable competitive advantage that will leave rivals trailing in their wake. With the onset of the internet of things (IoT) and big data gathering powered by cloud technology, early adopters will gain an advantage that could be developed into a sustainable edge over the competition. Moving forward, I believe information will be the key to success. Gathering, analysing and implementing insights from information developed by cutting-edge technological solutions will help companies operating in even the most analogue industries to forge a path to success.

Question 3 (25 Marks) The four-stage planning model is the foundation for the development of a portfolio of applications that is highly aligned with the corporate goals and has the ability to create an advantage over competitors. A fourstage model of IT planning consists of four major activities or stages. Illustrate these four activities/stages.

Question 4 (25 Marks) Analysing the forces that influence a companys competitive position will assist management in crafting a strategy aimed at establishing a sustained competitive advantage. To establish such a position, a company needs to develop a strategy of performing activities differently than a competitor. Illustrate the various strategies that may be adopted by an organisation to gain competitive advantage.