>> Business Economics
Develop a strategy for a firm to make sure it’s products always stay a big step ahead of its present competitors and also ahead of anyone else who threatens to come into their markets and compete with it. Try to select an existing firm that you can research and then look at all the ways the company can try to innovate, use skilled marketing techniques, make use of market imperfections where possible, form alliances to obtain new patents, and more. Develop a series of steps your firm can take and after you have examined your list, express the overall strategy that you can see emerging from your list. When you then put the strategy into execution, you will have to be careful about not violating anti-trust laws in the US and internationally as well. So do not plan on doing something that might violate the laws.