From what you think your core competence is, you can derive your comparative advantage by comparison with the core competence of your competitors. You might find out that some of your core skills are largely available to most of your competitors as well, so are not really differentiating. This analysis should also help you identify missing skills that are strategic to acquire for your company’s future and provide impulse to reinvent yourself.

Your comparative advantage might be anything from:

• valuable IPRs that generate high royalties
• short development cycle for new products
• an ecosystem of partner products enhancing your own product
• high production volume and just-in-time manufacturing capability
• strong negotiations skills and buying power
• unique process and distribution know-how supported by IT tools
• superior consultative selling skills supported by powerful CRM systems
• a widely recognised brand
• a culture that fosters innovation and can integrate new start-up acquisitions in a large corporation
• a top and middle management that knows how to motivate their staff to give their best.

And many more.