BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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identify similarities and differences between customer
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identifying strategies for groups of multinational firms
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identifying strategies for similar groups of firms
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identifying firms with similar strategies
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Detailed explanation-1: -A strategic group analysis is a market research tool that compares the attributes of competing companies. Its purpose is to evaluate how one business performs against similar businesses in its field. It can reveal if the business is exceeding competitors successfully.
Detailed explanation-2: -Strategic group analysis is used to examine the competitive environment and the rivalry among competitors within an industry. It helps, Identify the strategic direction of the direct rivals in the industry. This will in turn help shape the strategic moves of your own organization.
Detailed explanation-3: -A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies.
Detailed explanation-4: -Strategic grouping is the process of grouping companies with similar strategies or similar business models within an industry. E-Merge tech offers strategic grouping analysis which helps companies identify their most direct competitors and understand the basis of competition.
Detailed explanation-5: -There are four steps to construct a strategic group map: (i) identify the competitive variables that distinguish companies; (ii) plot firms on a two-variable map with pairs of characteristics; (iii) assign companies to the strategic groups; (iv) draw circles around each strategic group.