Business Case Study
Successful businesses always have different strategies to make sure that they offer their customers good services to its clients. Good services help in holding potential customer and earn profit for the business. The strategies always include several factors that help in expanding business excellence. The business analysis may include the following factors.
This is a very important in strategic planning of a business process. Most business takes it as the best to help them plan and counter attack their competitors. Competitive analysis helps business to react to changes and respond to the changes. It helps the manager to have a good knowledge about the advantages and disadvantages of healthy competition relative to opponents. It provides understanding business rival present, past and future strategies and assist in forecasting future benefits that are generated from future investments. The objective of the analysis is to come up with ways to handle competition arising from the business
It helps in the survey of business landscape to define on how external factors will affect the decision-making process in the business. Business environmental influence is categorized as proximity or source. The source includes technological, economic and social factors, this factors result to the formation of PEST analysis. Business cannot regulate these variables and it can plan and take action through making a right decision. Organization uses environmental analysis to prepare for any potential threats.Objective of the environmental analysis is to discover threat much earlier before it affects the business
Customer analysis is used in a business plan that assesses the customer segments that the company operates. The company needs to identify the target clients, who can make a profit in the business, has an organization need to know the most pressing needs of the customers and take them into consideration and the company products/services offered by the company should satisfy the immediate need its customers. Its objective is to check on the customers want and the most pressing need in the market.
This is a systematic monitoring and evaluation of key internal business features. There are four areas that should be taken into consideration when conducting internal analysis and the include; business capabilities and resources, the system in which the business co-ordinates and operates its main value adding factors, the business structure and characteristic of its culture and finally the performance of the business that is measured by strengths of its services and products. Its objective is to check the internal operation of the business
Market analysis is used by investors to check on the market. The collected data is used to determine whether a business is improving or not. It can help the investors making their decision. The investors use it to analyze their client and decide the best move to improve business sales and profitability. Its objective is to check on what is on demand at the market.
This are always formulated as per the need of the market situation for a given business. General marketing strategies the following factors; strategies based on the market dominance and involve leader, follower and challenger. Innovation strategies, it helps in the promotion of new product and business innovation. Growth strategies it focuses on the entire growth of a business and Porter generic strategies.
It is commonly known as Four P's, and they are product, price, place and promotion. Is a combination of the elements of marketing and plays a role promoting organization products and services
Product: The product and service need to maintain quality, features, guarantees, and after-sales service.
Price: company price of product and service need remains competitive but allows making a good profit. The pricing including discounts, allowances and credit policies. To be competitive, price need to be fair.
Place: Place of the business can be used as a marketing strategy to help differentiate your business in the competition. Place where a business sells its services and how it gets those services to customers. Considering good locations, retailers, transport and warehousing making it easy to reach your customers.
Promotion: is used to communicate with clients and express the features and benefits products and services to the target clients. Promotions can be done through advertisement, personal selling and networking. This make product be marketable to potential customers and earn profit for the business.
Situation analysis is a systematic way that managers use to analyze internal and external environmental factors of a business. Situation analysis involves many factors of analysis. They include 5C’s Analysis and SWOT analysis. The situation analysis addresses both the macro-environmental factors, which can affect business. Its objective is to indicate to an organization about the organizational and product and services position.
SWOT analysis is used in business to know when it does better than competitors, when the competitors perform better than your business and if the company is creating more opportunities available and utilizing the chances created. The SWOT analysis is categorized into two factors that include the internal factors, which include strength and weakness, and the external factors entail opportunities and threats.
Weaknesses and strengths - they arise from within the business and they relate from the present situation. They can be due to managerial or use of poor technology in the running of a business.
Opportunities and threats;they arise from outside business environment and tend to relate with environment factors that can affect business probability. They can impact on the business negatively. Threats need to be given considerable attention in order for a business to handle them before they cause a negative impact on the business.
An organization to be successful in its search for good market and potential customers it depends on the analysis conducted to help in earning profits. A health business always needs to have been organized in a manner that will it overcome any challenge that occurs, and it was not planned. Business analysis factors help in improving the condition in the business operates under and they should be employed. Business need to have departments that handle all issues that are rising from internal and external factors.