Hello and welcome to advanced competitive strategy. My name is Tobias Kretschmer and I'm a professor of , strategy technology and organization at Ludwig- Maximilians-University or LMU in Munich. We are about to start a new course and a new adventure. Advanced competitive strategy consists of seven different modules in which you will learn how you can apply business strategy in competitive situations. Each one of our seven modules consists of a variety of around 10 different videos all of which include one or two individual quizzes, that are going to let you test your newly acquired knowledge immediately. And of course, they should also be fun. There will also be a longer quiz at the end of each module. So, once you've completed all seven modules, you can also eventually take the final exam. And please, do check out our forum. Because it's a brilliant opportunity to connect to fellow students, to build study groups, to openly discuss questions, and to communicate with our wonderful and knowledgeable taching assistants. But for now, let's get started, with the first module, and I'll see you again in the next video. [BLANK]