IF YOU ASK any business executive to name a few direct competitors, the chances are they will rattle off at least three or four with no trouble at all. But then ask the same person what differentiates their company from the competition and the answer will usually be far less definite. In reply, you may get an abbreviated version of a standard sales pitch, or a few improvised thoughts inspired by half-remembered figures or a couple of points repeated from a recent management pep talk. The answer, though, will almost certainly contain a large element of wishful thinking based on “what we like to believe”, and not so many verifiable facts that stand up to further scrutiny.