Posted: March 21st, 2023
management discussion question and need an explanation and answer to help me learn.
Do some research and find an analytical tool that aids in understanding the various competitive forces that affect strategic planning. Although all organizational sectors potentially face similar kinds of competitive forces, each sector and/or organization may face unique factors that affect competitive pressure at any given time, depending on varying circumstances.
For instance, you may investigate supplier bargaining power from foreign markets? or dealing with emerging companies in the cell phone (or tech) industry.?
[Suggestion: You may want to know more about the developer of the Five Forces Model?Michael Porter, who is a premier strategy professor at Harvard. Check him out on YouTube.]
Please select ONE of the three questions below to answer:
What is an HRIS? How can an organization use it to increase the efficiency and decrease the costs within the HR Department?
Describe the pros and cons associated with outsourcing most of your organizations HR functions to an independent vendor for a contract period of 10 years.
What factors would affect your choice of an HR planning system? What factors would influence your choice of forecasting methods?
In your answers please draw from your own professional experience and provide examples from your own life, either as a leader, helper, employee, or observer. Review the reading, draw from your own ideas, examples or experience– and conduct some additional research as needed.
Hello class, this week we learned about various tools and techniques that helps our organizations understand its internal and external competitive landscape. I recently was promoted to the Eastern Regional Sales Manager so I am actually in the process of creating a SWOT and Territory plan, so this week was quite helpful. We use HubSpot for our sales management and business development duties. HubSpot actually has a market research kit that you can download for free. It comes with a market research guide which allows you to understand your industry and what to look for regarding your competitors, word docs for the SWOT analysis and Porter’s 5 forces analysis, and templates for a market survey and focus group.
If you’re looking for a particular tool, Praxie has a competitive landscape analysis tool that you can sign up for which is essentially an excel template that allows you to organize competitors via a ranking system or scale. Praxie is a good visualization tool to use as it gives you insight as to whether or not a competitor will remain one for the foreseeable future.
Another site that you can use to find SWOT templates would be VisualParadigm Online Diagrams. They have different SWOTS annotated for various companies and templates to use as well.
Personally, I prefer to just open a Word or PowerPoint template and complete a SWOT analysis that way. With my company being in the optical sensing / CT/PT market, there are very few competitors because our solution is quite vast. However, it’s important I have an understanding of competitors with “new entrants.” Luckily, our company owns the patents on our technology, so there cannot be anything exactly the same but there have been companies that have tried and created alternatives that are quite comparable.
Below is my first iteration of a SWOT for the East Coast Region which I’ll review with the team later on.
Links to other tools, software’s, sites that I mentioned above:
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