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Competitor Analysis

This document discusses benchmarking, which is defined as improving performance by identifying, understanding, and adapting outstanding practices from inside and outside an organization. It notes that benchmarking involves comparing business processes and metrics to industry best practices. The document outlines reasons for benchmarking such as keeping up with changing customer expectations. It identifies major advantages like process and product improvement through imitation rather than invention. Potential disadvantages include practices that do not translate or incorrect comparisons. Finally, it briefly discusses dimensions of competitor analysis like objectives, strategies, resources, and predicting future moves.

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alvha
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174 views18 pages

Competitor Analysis

This document discusses benchmarking, which is defined as improving performance by identifying, understanding, and adapting outstanding practices from inside and outside an organization. It notes that benchmarking involves comparing business processes and metrics to industry best practices. The document outlines reasons for benchmarking such as keeping up with changing customer expectations. It identifies major advantages like process and product improvement through imitation rather than invention. Potential disadvantages include practices that do not translate or incorrect comparisons. Finally, it briefly discusses dimensions of competitor analysis like objectives, strategies, resources, and predicting future moves.

Uploaded by

alvha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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COMPETITOR

ANALYSIS
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AN ARMY WITHOUT SPIES IS LIKE A MAN WITHOUT EARS


OR EYES
-SUN TZU-
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What isBenchmarking?
At its simplest, benchmarkingmeans:

"Improving ourselves by
learning from others."
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WHAT IS BENCHMARKING?
Benchmarking is the process of improving
performance by continuously identifying,
understanding, and adapting outstanding
practices found inside and outside the
organization.
Benchmarking is the process of comparingone's business
processes and performance metrics to industry bests
and/or best practices from other industries.
 Why are others better?
 How are others better?
 What can we learn?
 How can we catch up?
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BENCHMARKING FEATURES
Benchmarking has three main features:
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W h a t to Benchmark?
Ide nti fying R e s o u r c e s a n d Capabilities That Can Add Value
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Why Benchmarking?
• Traditional performance improvement trends seem
not to be sufficient for the highly competitive
markets. In other words external environment and
market conditions change rapidly
• Customers’ expectations are highly liquid and are
driven by standards set by best performer. Any
product or service just below these standards may
not catch the eyes of customer.
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Why Benchmarking?
 Benchmarking gives us the chance of gaining:
 Better Awareness of Ourselves(Us)
What we are doing
How we are doing it
How well we are doing it
 Better Awareness of the Best(Them)
What they are doing
How they are doing it
How well they are doing it
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MAJOR ADVANTAGES OF
BENCHMARKING
• Product and Process Improvement:
By implementing benchmarking activity,
organizations can improve their operation process
• Time & CostReduction:
Bench marking is time a n d cost efficient because it
involves imitation an d adaptation r a t h e r t h a n pure
invention.
• Competitive Strategy
By implementing benchmarking activity,
organizations can improve their operation process.
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MAJOR DISADVANTAGES
OF BENCHMARKING
 What is best for someone else may not suityou
 Poorly defined benchmarks may lead to wasted
effort and meaningless results.
 Incorrect comparisons
 Reluctance to shareinformation
12

THE DIMENSIONS OF COMPETITOR


ANALYSIS
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Assessing competitor’s current and


future objectives
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Assessing competitor’s current


strategies and activities
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Assessing competitor’s resources profile


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Predicting competitor’s future
strategies
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SOURCES OF COMPETITOR
INFORMATION
18

THANK YOU

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