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Problem Based Learning
Changing Markets and Competition
This Problem Based Learning (PBL) activity looks at the issue of innovation in business as a means of generating competitive advantage. The problem focuses on developments in the music industry and will not only raise questions about innovation and competitive advantage, but also about how business in the industry copes with new developments and threats. As such, there is a wide range of different problem areas that could be investigated, covering not only issues related to business studies but also to economics.
Learning Objectives
At the end of the PBL activity, students might have covered some of the following:
- The meaning and nature of the term 'competitive advantage'
- Porter's 'Five Forces' analysis
- The role of innovation in business
- The nature and role of different pricing structures in business
- The impact of technology on business
Resources:
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