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Incorporating competitive advantage into the process technology investment decision

Evidence suggests that few organisations specifically factor competitive advantage into process technology investment decisions, despite evidence that companies who invest for market reasons tend to be more successful. This article outlines a five-step method that companies can use to ensure that competitive advantage is explicitly included in the investment decision. The steps outlined assume that a company wishes to invest in process technology to achieve an advantage. The five steps require an estimation of the competitive position, identification of a potential competitive advantage, discrimination between projects based on competitive advantage factors, financial appraisal and a final check to ensure that the proposed investment fits the strategy.