which of the following describes the result of the external analysis used for
to find out who the competitors are
to define the internal values and mission
to identify key resources and capabilities
to predict the future conditions the firm may face
The result of the external analysis used for these purposes would be a comprehensive understanding of the competitive landscape, the identification of potential competitors, insight into current and emerging industry trends, and an assessment of the overall business environment. This analysis helps in formulating strategies to effectively position the firm, capitalize on their internal strengths, and mitigate potential risks.
The result of the external analysis used to accomplish the following objectives are as follows:
1. To find out who the competitors are: The result of the external analysis in this case would be a list of identified competitors in the market. This analysis helps in understanding the competitive landscape and assessing the strengths and weaknesses of each competitor.
2. To define the internal values and mission: The result of the external analysis here would involve gathering information about the industry trends, customer preferences, and market demands. This information helps in defining the organization's internal values and mission, aligning them with the external environment.
3. To identify key resources and capabilities: The result of the external analysis for this objective would be the identification of key resources and capabilities present in the market. This analysis helps to identify opportunities for collaboration, potential partnerships, or acquisition of resources and capabilities.
4. To predict the future conditions the firm may face: The result of the external analysis in this case would involve identifying potential threats and opportunities that may arise in the future. This analysis helps in understanding the potential impact of external factors such as political, economic, social, technological, and environmental changes on the organization's operations and strategies.
The result of the external analysis can be described as follows:
1. To find out who the competitors are: The result of the external analysis would be a list of the firm's direct and indirect competitors. This can be obtained by conducting market research, analyzing industry reports, and studying the competitive landscape. It involves gathering information about companies that offer similar products or services, compete for the same customers, or operate in the same industry.
2. To define the internal values and mission: The external analysis provides insights into the broader industry trends, customer preferences, and market dynamics. By understanding these external factors, the firm can align its internal values and mission with the external environment. The result is a clear definition of what the firm stands for, what it aims to achieve, and how it intends to differentiate itself from competitors.
3. To identify key resources and capabilities: Through the external analysis, the firm can identify the key resources and capabilities needed to compete effectively in the marketplace. This includes understanding the competitive advantages of the firm, such as its unique assets, technologies, skills, or partnerships that give it a competitive edge. The result is a list of the firm's strengths and weaknesses, which can be used to develop strategies and allocate resources accordingly.
4. To predict the future conditions the firm may face: The external analysis helps to identify and anticipate the future conditions that the firm may face. This includes analyzing market trends, regulatory changes, technological advancements, and other external factors that could impact the firm's operations and strategic decisions. The result is a better understanding of the opportunities and threats that may emerge in the future, enabling the firm to proactively plan and adapt its strategies.