Competitors Analysis Critical Review Essay Example | Topics and Well Written Essays - 2000 words

Competitors Analysis Critical Review - Essay ExampleA way in which this give the bounce be through with(p) is through competitor analysis.This review attempts to find the common ground or differences in approach between the authors and checks them against the background of the strategic needs of organisations for sustaining competitive advantage.maintaining and up profitability targets. In the face of fierce competition, the market place is merciless in changing the fortunes of companies. If firms ignore or neglect strategic moves by competitors, they can find their market share and profitability disappear in quick time. Competition can be in many forms such as youthful entrants, new products / services, more economical processes that offer cheaper alternatives to customers, new marketing or distribution channels, newer strategic associations or markets, etc. While the challenge of keeping dawn of so many variables may be daunting, it is comforting to remember that generally each business has its own limited set of rivals. Largely, this depends upon its own profile of sizing & operations. It is this universe of potential rivals that is important to a firms competitive position.According to Porter, Strategy is an internally consistent configuration of activities that distinguishes a firm from its rivals (Porter, M E. 2004, p.vi). Porters theory identifies a firm as one based on activities and points out that it is these activities that create opportunities for a firm to offer measure to a customer (Porter, M E. 2004). To this extent, analysis of a firms own or its rivals activities can be considered as of the essence(p) as strategic to a firms competitive advantage. The question then is when or how often should one conduct such an analysis? and the serve up should be that it must be an on-going process in view of the constantly emerging competitors challenges.Competitor analysis is the management