A profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.
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A profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met.
Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.
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- Competitive intelligence may be defined as the process of systematically scanning the business environment and identifying and assessing potential opportunities and threats (Louw & Venter, 2019). Naked wants to improve their market share in South Africa and is considering acquiring Granadilla Insurance (a competitor) to do so. Granadilla Insurance focuses mainly on the gadget and small business insurance compared to Naked, which focuses on car and household insurance. As a strategic consultant for Naked, you are tasked to advise Naked. Your answer should contain the following points: •Provide a brief introduction to strategic decision making and macro -environmentalanalysis. •Complete a CI cycle on Naked’s consideration to add small business insurance to theirpolicy options. •In conjunction with the CI cycle, conduct a macro-environmental analysis (PESTEL analysis)for Naked on the South African market. •Compare the outcomes of a SWOT analysis for both Naked’s current…Which of the following statements BEST describes the Gartner’s ‘Magic Quadrant’? Helps businesses understand their current and future competitive landscapes. Helps businesses get a clear picture about their strong points and weak points relative to their competitors. Helps businesses prioritize and strategize your business investments among smaller business units. Helps businesses analyze and represent a particular product/market/industry in terms of their ability to deliver based on their vision.A competitive strategy identifies how to build and strengthen the business’s long-term competitive position in the marketplace. If your school assigned you to decide the competitive strategy, which of the three strategies will you choose and give your opinion to support your argument?
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- Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition” (Porter, 1985). Evaluate the five basic competitive strategies pursued by organizations in order to create sustainable competitive advantageTwo basic competitive strategies are: Cost leadership and Product / service differentiation. You have two business choices in the current pandemic, (1) cleaning service or (2) healthy homemade cooking. Naturally many things are different from the two types of business that you want to be in.Make a business analysis of 2 this type of choice is both qualitative and quantitative, and all of them are supported by reference data and simple calculations to support your competitive strategyEach student will write about and discuss case study. To analyze the case you will need to research a variety of sources. In the paper you should first give a brief summary of findings and then answer the following questions: What has been changed after COVID19? Who is the winner and loser in this industry during COVID19? How did the company change marketing strategies/investments after COVID19? How did the firm implement such changes in their marketing efforts? What is your prediction of the industry after 6 months and after 1 year? What are some ways to implement your recommendations? Deliverable: 1 Case Essay: You will create a 4-page written case analysis paper (12 point font, double spaced). You'll need more than a company web site research to do this right. You need at least 3 properly cited references. Case write up content: Executive summary Answer questions Links to answer the questions are provided below Amazon-2021-Annual-Report.pdfAmazon Pricing (1).pptx
- ‘Business strategy produces long-term plans for the business, taking into consideration plans and possible actions of competitors, the main objective being to position the firm so it has a competitive advantage... If management accounting is to play this role in strategic management, it must provide managers not only with internal, financial information, but also with information, both financial and non-financial, about the environment in which the firm is operating: strategic management accounting’ (Lord, 2007, p.135). Discuss the previous statement, taking in to consideration the following perspectives: b)The appropriateness of the new performance evaluation techniques (such as balanced scorecard and strategic management accounting techniques) to the strategic management accounting objectives in comparison to the traditional performance measures. * please help me to answer this question in details, thanksA company that pursues and achieves strategic objectives: Answer C) is frequently in a better position to improve its future financial performance because of the increased competitiveness that flows from the achievement of strategic objectives. D) is likely to be a weak financial performer because diverting resources to the pursuit of strategic objectives takes away from the achievement of financial performance targets. B) is generally not strongly focused on its true mission of making a profit. A) is likely to weaken the achievement of its short-term and long-term financial objectives.How can a firm conduct a competitive analysis to understand brand's position in the market and identify areas for improvement?