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. Recommended source: Granadilla. 2022. [Online]. Available at: https://granadillaworld.co.za/gadgets-insurance/#gadgets [Accessed 16 January 2023]. 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 -environmental analysis. • Complete a CI cycle on Naked’s consideration to add small business insurance to their policy 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 policy offers (car and household insurance) and the SWOT analysis of a small business insurance policy option respectively. • Conclude whether it is in the interest of Naked to add small business insurance to their policy options, by acquiring Granadilla Insurance. Provide reasons for your answer.
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.
Recommended source:
Granadilla. 2022. [Online]. Available at: https://granadillaworld.co.za/gadgets-insurance/#gadgets
[Accessed 16 January 2023].
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 -environmental
analysis.
• Complete a CI cycle on Naked’s consideration to add small business insurance to their
policy 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 policy offers (car and
household insurance) and the SWOT analysis of a small business insurance policy option
respectively.
• Conclude whether it is in the interest of Naked to add small business insurance to their
policy options, by acquiring Granadilla Insurance. Provide reasons for your answer.
Step by step
Solved in 5 steps
