
You are a rookie Associate Consultant at Meridian Strategy Advisory, and a private-equity client wants to know which of three Indian companies it should back. You judge which resources give a lasting edge, a temporary one or none, choose what intelligence to read, and name your pick. The three firms look almost equally strong, a market shock lands halfway through, and a senior partner is waiting to test every claim you overstate. The shock strips some advantages and leaves standing others that only look exposed, so redrawing your audit in a panic is penalised just as ignoring it is. You are judged on the quality of your analysis and how well your recommendation survives her questions. You learn that advantage is a question of how long it lasts, not how strong it looks today.