BUSINESS ORGANIZATION AND POLICY

Assessing the Competitors

Assessing the Competitors

Competitive analysis is a process of linking the company with its environment. Competitive analysis helps in identifying the strengths and weaknesses of the company and the opportunities and threats that affect an organization in achieving the target market. So, it can be said that though this process the activities of the competitor can be assessed. (Wright, 1998) This analysis is the basis on which the strategy for assessing the competitors depends, moreover, the purpose for assessing the competitor are mentioning below;

The nature and success of the changes likely to be taken by the competitor.

The likely response of competitors to potential strategic moves that other companies can begin.

The reaction and adaptation to potential environmental changes that may occur in the various competitors.

According to the past studies, it is observed and proved that the organizational behaviors are influenced by various factors which affect the performance of an organization, this factor include assessing the competitor. Organizational strategy while assessing the competitor is a systemic concept, made up of essential parts which are independently distinguishable but which together forms a new and better strategy which ultimately affect the whole organization in terms of efficiency and effectiveness of the organizational productivity.

The competition consists of companies operating in the same market and performs the same function within the same group of clients regardless of the technology used for it. It is, therefore, the competitor who makes a generic product but one that meets the same needs of competitor regarding the same target audience or consumer, for example, the film can be left to the theme parks, as both are embedded within entertainment. (Wright, 1998) To give an accurate idea of the importance of competitive analysis, it is essential to plan the process of business strategy which addresses three key questions which are helpful in assessing ...