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

rivals Analysis Critical Review - Essay faceA way in which this can be done is through competitor compendium.This review attempts to see to it the common ground or differences in approach between the authors and checks them against the background of the strategical needs of organisations for sustaining emulous advantage.maintaining and improving positiveness targets. In the face of fierce competition, the market place is merciless in changing the fortunes of companies. If steadfastlys 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 new entrants, new products / services, more economical processes that brook cheaper alternatives to customers, new marketing or distribution channels, newer strategic associations or markets, etc. While the challenge of keeping track of so many variables may be daunting, it is comforting to remember that generally each business ha s its own limited set of rivals. Largely, this depends upon its own visibility of size & 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 value to a customer (Porter, M E. 2004). To this extent, analysis of a firms own or its rivals activities can be considered as essential as strategic to a firms competitive advantage. The question then is when or how often should one conduct such an analysis? and the answer should be that it must be an on-going process in view of the constantly emerging competitors challenges.Competitor analysis is the management