A competitive advantage approach and concepts

Subject: 💼 Business
Type: Definition Essay
Pages: 1
Word count: 254
Topics: 🧮 SWOT analysis, 🙋‍♂️ Management
Need a custom
essay ASAP?
We’ll write your essay from scratch and per instructions: even better than this sample, 100% unique, and yours only.
Get essay on this topic
Text
Sources

Question one

SWOT analysis as a strategic planning tool

The acronym stands for strength weaknesses opportunity and threats. The use of SWOT analysis involves a critical process of scrutinizing both the inbuilt and outside factors that are likely to affect your business. As a matter of facts, the inbuilt factors are represented by strengths and weaknesses whereas outside factors are depicted as the underlying threats and opportunity. SWOT analysis has been used over the years as a strategic planning tool (David & Davis, 2016).

Need help with your paper ASAP?
GradeMiners certified writers can write it for you.
Write my paper

For instance, a sound knowledge of strength of a business can is vital in pinpointing areas that are under performing and strategically react to them. Through SWOT analysis, one is able to determine how to handle and cope with emerging trends, changes in the operation of the competitor as well as changes in the technology, which poses as a threat. It also helps to eliminate weaknesses and offers a platform through which businesses can take advantage of a new opportunity and finally

Any topic. Any deadline.
Our certified writers can do
an A-level paper for you.

Question two

KPI are quantifiable or quantitative measures including a number of customers, sale revenue, or profit, and which are used to gauge the performance of business (Sedee, 2016). For instance, KPI are used to relate to a certain envisioned business outcome. In every operation of the business, there is a need to define key objective. In the process of achieving operational objectives, automatically the actualization of the strategic plan is realized as well. KPIs therefore, give a red light in the strategic planning system in case of deviation from the intended goal.

Did you like this sample?
  1. David, F., & Davis, F. R. (2016). Strategic management: A competitive advantage approach,     concepts and cases. Peaeson/Prentice Hall.
  2. Sedee, K. M. J. (2016). Key Performance Indicators. Retrieved from        http://purl.utwente.nl/essays/72014
Find more samples:
Related topics
Related Samples
Subject: 💼 Business
Pages/words: 3 pages/790 words
Read sample
Subject: 💭 Psychology
Pages/words: 4 pages/900 words
Read sample
Subject: 💼 Business
Pages/words: 6 pages/1555 words
Read sample
Subject: 💭 Psychology
Pages/words: 8 pages/2069 words
Read sample
Subject: 💼 Business
Pages/words: 10 pages/2454 words
Read sample
Subject: 💼 Business
Pages/words: 6 pages/1592 words
Read sample
Subject: 💭 Psychology
Pages/words: 3 pages/602 words
Read sample
Subject: 💼 Business
Pages/words: 2 pages/335 words
Read sample
Subject: 💼 Business
Pages/words: 5 pages/1156 words
Read sample
Subject: 💭 Psychology
Pages/words: 2 pages/526 words
Read sample
Subject: 💼 Business
Pages/words: 2 pages/621 words
Read sample