Industry Analysis Homework Help
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Industry analysis is a tool that allows the company to compare its position with respect to other companies producing similar products or services. As mentioned in Industry Analysis Homework Help, this tool facilitates small business owners to understand and identify the threats and opportunities facing their business. The dimensions of industry analysis include- cost structure, developments and industrial trends, actual and potential industry size and industrial key success factors. Industry Analysis Homework Help tells us that industry analysis has a great influence on the company as it reviews political, market and economic factors.
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Importance of Industry Analysis
Industry analysis is useful in many ways. Some of them highlighted in Industry Analysis Homework Help are given below
• It is an important element of business plan and gives satisfying results.
• It helps the company to recognize its potential opportunities thereby leading to the growth of the company. The three major elements of industry analysis can be studied in Industry Analysis Homework Help.
• Industry analysis tool helps the business owners to frame strategy that would assist in the growth and success of the business.
• It helps in the prediction of performance of firm within the industry.
• This tool contributes to the success of business by identifying future threats and opportunities. Other factors can be studied in Industry Analysis Homework Help.
• It is often combined with SWOT (Strengths, Weaknesses, Opportunities and threats) analysis to look at both internal and external factors.
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