Question

Explain how a competitive profile analysis helps with a firm's environment "fit" to produce a better strategy. Support your answers with examples, anecdotes, citations (the text's author or your own research), personal examples, etc.

Answer 1

competitive profile analysis is the strategic tool that is used by the companies in order o evaluate the competencies and features of the organization with that of the competitors. This will help the company to understand the gap between the competencies of the competitor and itself. This can be used in order to have a long term stratic alignment that can be focused on narrowing the gap with the industry leader and getting ready for future challenges.

This will also help the company to get ready for the environmental threats as the company will focus on those competencies to develop that is not present in it but is used by the competitors.

For example, Apple and Samsung are operating in the same product segment and thus they are trying to attract the same customers. Apple and Samsung can perform the competitive profile analysis and depend on this they can try to focus on the strategies and competencies used by the other company such as latest features, new technology and so on. Both companies can then try to develop the product that can narrow down the gap between the two companies

References=

Jurevicius, O. (2013, October 29). What happens when you don't analyze your competitors? Retrieved from strategicmanagementinsight/tools/competitive-profile-matrix-cpm