Industry Analysis

Industry Analysis

In order for a manager to gain a complete understanding of an industry, it has to make use of the strategic analysis model. Under this model, there are certain guidelines provided that is to be followed. The beginning of industry analysis starts with defining the markets and products as well as the competitor and their abilities within an industry. The industry analysis mainly includes the market analysis to be done initially in order to develop a proper understanding of the market. After analyzing an industry, along with the relevant market, business strategies are developed. Managers need to develop their ...