Monitoring competitor actions is crucial for informing strategic decisions from "summary" of Competitive Strategy by Michael E. Porter
To gain a competitive advantage, it is essential for a company to keep a close eye on the actions of its competitors. By monitoring competitor activities, a company can gather valuable information that can be used to inform strategic decisions. This information includes not only the moves that competitors are making in the market but also their strengths, weaknesses, and potential responses to different scenarios. Competitive intelligence is a critical component of a company's strategic planning process. It provides insights into the competitive landscape and helps a company identify opportunities and threats that may arise. By understanding how competitors are positioning themselves in the market, a company can adjust its own strategy to capitalize on any we...
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