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A company benefits from comparing its metrics to those of its competitors as it allows the company to understand its position in the market. It can identify areas where it is performing well and areas that need improvement. It also provides insights into the strategies and tactics used by successful competitors, which can be used to improve their own performance. This process is known as benchmarking.
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Use our compilation of commonly used Consulting Frameworks to better structure your analysis and communicate the most suitable recommendations. This d...
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- a framework developed by Michael Porter at Harvard Business School, which focuses mainly on an industry analysis for a strategic plan. The 4 Ps – a marketing framework that forms factors around products' and services' marketing workflows and processes. – an organizational model created by Tom Peters and Robert Waterman, which concentrates on a venture's strategic vision and its internal design. (Strengths, Weaknesses, Opportunities, Threats) – a model for ideological and practical analysis of an organization to improve strategic planning operations. (RCA) – a process for identifying "root causes" of problems or events and an optimal approach for effective responses to them. – a process of comparing a company metrics to the metrics of the competition or progressive companies outside the industry. – a framework for following core aspects of business strategy and for facilitating improvement. The BCG Growth-Share Matrix – a quadrant matrix, developed by Boston Consulting Group (BC...
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