Strategic Analysis and Developing a Competitive Strategy

The video tutorial explains competitive strategy, which helps organizations differentiate themselves in the market. It discusses the role of strategic analysis, including SWOT analysis and Porter's Five Forces, in developing a competitive strategy. The tutorial emphasizes understanding internal and external factors to create a strategy that leverages strengths and opportunities while minimizing weaknesses and threats. Finally, it covers the implementation of competitive strategies through operational and functional levels to achieve organizational objectives.

What is the primary purpose of a competitive strategy?

• To expand into new markets

• To increase employee satisfaction

• To reduce production costs

• To differentiate a company in the market

Which tool is commonly used to analyze internal strengths and weaknesses?

• Ansoff Matrix

• PEST Analysis

• SWOT Analysis

• BCG Matrix

Porter's 5 Forces include all of the following EXCEPT:

• Substitute Products

• Supplier Power

• Buyer Power

• Technological Advancements

What is the goal of developing a competitive strategy?

• To achieve a competitive advantage

• To increase employee turnover

• To reduce market share

• To eliminate all competition

How is a competitive strategy typically implemented within an organization?

• Through financial audits

• Via operational or functional level strategies

• By increasing marketing budgets

• Through employee training programs