Economics & Business

A competitive advantage

The Learn About Wool resources provide an ideal opportunity for Year 9 students to investigate competition between businesses and industries for market share in a global marketplace.

The following curriculum-based resource package includes a variety of interactive resources, including downloadable PDF factsheets, websites, age-appropriate video-clips and publications.

A range of Learn About Wool (primary and secondary) factsheets is available to meet the needs of a wide range of students, and can be accessed from this site.

Links with the Australian Curriculum

Students can investigate the following resources to help them: identify the reasons businesses seek to build or create a competitive advantage, for example to meet the changing demands of a competitive global market and improve their profit margins, investigate the different strategies businesses use to create competitive advantage, for example research and development, offering a lower-cost product, or by implementing efficient internal operations strategies, discuss whether the adoption of strategies based around corporate social responsibility can increase the competitive advantage of businesses, explore emerging techniques businesses can use to gain an advantage, such as blended marketing, open innovation and use of social media.

Knowledge and understanding | Economics and business

The nature of innovation and how and why businesses seek to create and maintain a competitive advantage in the market, including the global market (ACHEK041)

Business skills | Economics and business

Opportunities exist to incorporate the full strand depending on the classroom activity being undertaken (ACHES043, ACHES044, ACHES045, ACHES046, ACHES047, ACHES048, ACHES049)