Stopping along the way and carefully observing those around you, that is, the competition, is one of the activities that we must include within the life of our company.
This exercise, without a doubt, brings us a lot of value, since by visualizing the environment we can:
- See where we are and set growth goals
- Take actions to maintain our position and prevent those below us from surpassing us
- According to the trajectory, detect the successes and errors that placed the competing companies in that place
- Know the infrastructure and technology that supports them
- Observe your short and long term strategies
- Map your strengths, weaknesses and opportunities
This means that competitive analysis is useful because it helps us broaden the panorama, define where our company is located, detect areas of opportunity and, with all this, develop plans that make us grow and improve our decision making.