Strategic decision-making is a process which describes how a company creates its mission and objectives and makes decisions on then courses of action that an organization can pursue to achieve the set goals. The most critical step is the step where evaluation of an analysis of SWOT factors is done. It is essential to determine the problem that is associated with the organization and finding out the resources at the company's disposal in overcoming its underlying issues. The most critical step in achieving competitive success is conducting a SWOT analysis.
The purpose of analysing the strength and opportunities for a company is to gain a competitive advantage for a company over rival firms. The need is to focus on the positive opportunities available and the strengths which can help in obtaining ground against competitors and having a better chance of them.
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The first is to focus on the services being provided wherein a particular market; services are essential factors which differentiate the competitors involved. The organization is in need of a clear strategy and strength. The second focus should be on the parameters set for quality. Firms which cannot compete based on location or price have an opportunity to compete based on merit. This becomes even truer if high quality becomes core strength for the company. Customers often pay more or go an extra mile to get exceptional products. Differentiated products and services present an opportunity for organizations to be set apart from the competition. There is need to find a market segment that finds the attributes that are essential if focused upon.
Conclusion
The analysis of an organization’s problems based on its competitors is in my view the most important in achieving competitive success. The organization unveils the difficulties and the opportunities to step ahead of the competition.
