Review Figure 3.10 - Framework for Competitor Analysis Briefly discuss the impor

Question

Review Figure 3.10 - Framework for Competitor Analysis
Briefly discuss the importance of these four dimensions and if you believe these four cover the basic framework for an analysis or should another dimension be added. And, if one needs to be added in your opinion, what do you suggest the fifth or even sixth dimension should be??

FIGURE 3.10 A Framework for Competitor Analysis RESOURCES AND CURRENT STRATEGY CAPABILITIES How the company is competing currently Key strengths and weaknesses Strategic Moves (actions and reactions) and Outcomes OBJECTIVES Strategic and performance objectives ASSUMPTIONS Held about itself and the industry

Explanation / Answer

Competitor Analysis: Competitor analysis is done to understand and react towards competitor behavior. Once studied the bahavior, company and react to increase its market share. Broadly it has two aspects: -

There are obvioulsy many competitors in market; but with whom to compete for the growth of own firm is important. The goal is basiclly to understand competitors strategies, further the company should be ready to respond.

There are 4 dimentions of Competitor analysis as mentioned. Following is the importance of each:

1. Competitor's Objectives:-

2. Competitor's Assumptions:

3. Competitor's Current Strategy:

4. Competitor's Resources and capabilities:

All the above points must be studied systematically with experts and senior management. All these parameters helps the company to grow at desirable rate.

According to me, these 4 parameters completes everything hence any thing else is not needed. The dimnensions completes the framwork.

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