ABSTRACT
In a competitive environment, establishing and maintaining a competitive advantage can often mean the difference between success and failure. Numerous factors influence a company's performance in a given industry, among them the competitive nature of the environment, consumer demand, and the particular risks of doing business in that industry. What if an industry has not been defined yet? For example, what if Company XYZ is going to sell a product that is new to the world? There is not yet any competition to speak of, but this will likely change if the product generates profitable returns.
