Question
The six steps of the gap analysis procedure are: 1. Formalize a plan. 2. Identify the gap. 3. Investigate the causes for that gap. 4. Select actions to fix it. 5. Implement the selected actions. 6. Study the results, then standardize the system to continuously improve.
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To get there, follow the gap analysis procedure across six steps. First, formalize a plan. Identify the gap, investigate the causes for that gap, and select actions to fix it. In our example scenario, you are missing innovative product features that make your brand stick out. Your previous offering provided a useful service but it's not attractive enough to dominate today's market. So, you need to hire new talent to revamp your product design and development strategies. Then, implement the selected actions, study the results, then standardize the system to continuously improve. (Slide 3)
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