Competitor Analysis in Strategic Management: Is it a ...

Journal of Resources Development and Management ISSN 2422-8397 An International Peer-reviewed Journal , 2016 116 Competitor Analysis in Strategic Management: Is it a Worthwhile Managerial Practice in Contemporary Times? Alex Yaw Adom1, Israel Kofi Nyarko2*, Gladys Narki Kumi Som3 1, 2, 3 Department of Management & Public Administration, Central University, Accra Ghana Abstract Studying the actions and behavior of close competitors is essential . Unless a company pays attention to what competitors are doing, it ends up flying blind into battle. Managers need competitive information to understand the industry and its competitors; to identify areas in which the competitors are weak and to evaluate the impact of Strategic actions on competitors. The purpose of this study is to establish the relevance or otherwise of Competitor Analysis as a Strategic management practice in modern business competition.

competitor analysis is an essential component of corporate strategy, it is argued that most firms do not conduct ... competitor’s marketplace strategy in terms of scope, posture, and goals; the sources of competitive advantage ... customer needs as the focal firm even though the products or services are very different in form or technology.

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  Customer, Essential, Strategy, Goals

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