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How could comparisons between your organisation and competitors be useful?

How could comparisons between your organisation and competitors be useful?

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Answer #1

Comparisons between our organization and competitors can be useful in the followings ways:

1. It helps in benchmarking process and lets the business where is stands among the competitors

2. It assists in strategy development and improvement of operations ,efficiency.

3. Lets the business understand the advantage it holds over the competitors and how it can take it further to improve business.

4. It helps the company decide the focus areas and the possibility of exploring new options in terms of products, locations.

5. Aids in improving quality of revenue or service and gain better market share.

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