competitive Strategy 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 analyzing the different kinds of strategic development
tools that can be used by the companies as it assists in providing them the sense of the
direction along with outlining the different measurable goals in a sustainable manner. It
is considered to be the tool which is helpful in guiding day to day decisions and
evaluating the overall progress and changing the different approaches while moving
forward (Yin 2016). There are different strategy development tools which includes
SWOT, PESTEL along with Ansoff’s Matrix that can be explained as to identify their role
in identifying the external and internal environment in a successful manner. In addition,
it can be seen that the different kinds of strategic development tools are suitable for
ensuring that they work together in some of the areas which can be effective in
managing growth of the company in a suitable manner. It will be helpful for the different
businesses which are moving in other areas which will be appropriate for the overall
effectiveness of the firms.

COMPETITIVE STRATEGY2
SWOT Analysis
It is considered to be the study which has been undertaken by the companies for
identifying the internal strengths as well as weaknesses along with external
opportunities and threats suitably. It can be applied to the entire organization or the
individual projects which is within the single department (Rastogi and Trivedi 2016).
Strengths- It includes the different aspects wherein the company is performing
well along with analysis of the qualities which separate them from the different
competitors present in the market. Weaknesses- It is the aspect in which the company
lacks and wherein the competitors perform better than them. There can be unclear
unique selling propositions that can affect the growth of the company in the market
(Phadermrod, Crowder and Wills 2019). Opportunities- The emerging needs for the
different products and services will be determined which can create the opportunity for
the company (Gürel and Tat 2017). Threats- It includes analysis of the emerging
competitors present in the market along with changes in regulatory aspects that can
affect the growth and it can create impact on revenues of the company negatively
(Gurcaylilar-Yenidogan and Aksoy 2018).
For instance- With help of SWOT analysis, Woolworths analyze their internal
strengths and weaknesses along with identifying external threats and opportunities
which can differentiate them from other competitors. Strengths- It is the strong pioneer
brand in the market along with the efficient kind of operations has helped Woolworths in
managing their growth (Woolworths.com.au 2019). Weaknesses- Growing presence of
online market has restricted growth along with Woolworths have limited presence in
compared to other competitors (Woolworths.com.au 2019). Opportunities- Promote the
brand through proper advertising and the company seeks proper growth through proper
strategic acquisitions. Threats- More competition from the different international players
present and there is rising cost of the different raw materials (Woolworths.com.au
2019).