Competitive Strategy Development Essay 2022

Running head: COMPETITIVE STRATEGY
Competitive Strategy
Name of the Student
Name of the University
Author note

COMPETITIVE STRATEGY1
Introduction
The essay throws light on the different kinds of tools related to strategy
development which will be suitable for the growth of the companies suitably. In the
current scenario of the business environment, the strategic planning is the
organizational management activity which is being utilized for setting of the different
priorities, resources as well as focus energy which will be suitable for strengthening
the different operations effectively (Yin 2016). With the implementation of the
strategic development tools, it will be suitable for achieving the common goals along
with establishing agreement around the intended outcomes along with assessing as
well as adjusting the organization’s capability in managing the different activities
suitably which will be suitable for managing the effectiveness. The strategic
development tools will be clarifying the vision and formulate as well as implement
strategy appropriately. Through the different strategic development tools such as
SWOT, PESTEL and Ansoff Matrix, it will be suitable for the growth of the company
as it will analyzing the external and internal capabilities and threats which can affect
growth of the firms negatively. There will be inclusion of the different instances of the
different companies which will be helpful in understanding the role of tools.

COMPETITIVE STRATEGY2
SWOT Analysis
SWOT Analysis is defined as the framework which is useful for analyzing the
strengths and weaknesses along with understanding the external opportunities and
threats which can affect the growth of the firm negatively or positively. It helps the
companies in identifying their strengths and opportunities which will be allowing them
to focus on the same and they can take the great possible advantage of the same
(Rezaei, Khavarian and Ghafurzadeh 2016). It is the way through which the current
situation can be analyzed and it can be used for the goal setting approach for giving
the best benefit that enhances their growth in the competitive business environment.
Strengths- It analyzes the different business processes in which the company
us successful along with understanding the different competitive advantage aspects
which helps them in becoming more effective. Weaknesses- The different issues in
the business model of the company and the different processes of the business in
which proper improvement is required (Phadermrod, Crowder and Wills 2019).
Opportunities- The company needs to know the different opportunities such as
whether the market is growing in the respective locality and the future developments
of the company successfully. Threats- The analysis of the different competitors
which are making the company face tremendous issues in their growth prospects
(Rezaei, Khavarian and Ghafurzadeh, 2019).
For instance- SWOT Analysis of Apple will be suitable for understanding the
different future prospects of the company. Strengths- It is the globally iconic brand
and it prepares and sell the different products which are made with the
implementation of top technology. Weaknesses- There is lack of marketing as well
as promotions made by Apple which can be difficult for the company to compete in
the market and the high-priced products can create difficulties for the company to
create negative impact (Apple.com 2019). Opportunities- There is consistent
growth of the different customers which can create a huge growth-related prospect
for Apple and it will be suitable for intensifying their distribution network. Threats-
There is increasing competition in the market and due to the same it can affect their
growth prospects.