From the smallest company to the largest global giant, setting a strategy focuses the business and defines its unique and valuable position in the market. Business strategies evolve over time as external commercial conditions change and competitive situations arise. Analysing the organisation’s strengths and adapting to the external environment is a constant process in today’s fast-moving world.
Competitors can emerge onto today’s field of play from unexpected angles. Analysing the substitute goods and services offered by competitors, along with the competitors’ strengths and strategic weaknesses, improves a business’s ability to create value, capture value and maximise profitability in a dynamic market. Viewing from the position of customers reveals distinctive growth opportunities.