What is the importance of collecting and interpreting data and information about competitors? What practices should a firm use to gather competitor intelligence and why?
Answer to relevant QuestionsWhat parts of the external environment (general, industry, and competitive) segments do you think BP considered or didn’t consider prior to their drilling off the Gulf Coast? What should the wedding business owners now ...Why is it important for a firm to study and understand its internal organization? How do firms identify internal strengths and weaknesses? Why is it vital that managers have a clear understanding of their firm’s strengths and weaknesses? What are the differences among the cost leadership, differentiation, focused cost leadership, focused differentiation, and integrated cost leadership/differentiation business-level strategies? How do awareness, motivation, and ability affect the firm’s competitive behavior?
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