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GG, the new CEO in an organisation, was surprised to find out that the company does not undertake competitor analysis. He was told that, as the organisation operates in a very dynamic market, things change too quickly to make analysis worthwhile.

Choose from the following the option that presents why competitor analysis is important.

Options:

It allows the organisation to use the budget that the Marketing Department has been allocated so it doesn't lose it in the future.

It is an activity that satisfies the senior managers' requests.

If competitor analysis is not undertaken a new competitor could have entered the market and could reduce the sales of the organisation.

It can help the company to market its products.

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Question 2

A Company achieves its competitive advantage by adopting a positioning view to strategy setting.

Which TWO of the technical models below are most suited to this approach?

Options:

Michael Porter's Value Chain.

PESTEL analysis.

Michael Porter's Five Forces model.

Resource Audit.

Question 3

The purpose of PEST analysis is described by which of the following?

Options:

To examine the competitive forces at work in the industry.

To determine the strengths and weaknesses of the organisation.

To assess the power of the internal stakeholders.

To assess the threats and opportunities posed by the wider environmental forces.

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