| Steps In An Industry Analysis
|
| Although organizations approach and manage an Industry Analysis in
different ways, there are some common elements across those approaches. The
basic steps are as follows: |
| • |
Define and validate the information need with stakeholders |
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Create a plan to gather, organize, synthesize and present the information |
| • |
Conduct the collection and analysis |
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Produce the agreed upon deliverable or report
|
| • |
Present the industry analysis to stakeholders and get their feedback |
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Make the industry information available for others in the organization |
| Benefits of Industry Analysis |
| There are numerous benefits to performing an Industry Analysis.
Some of the larger benefits include: |
| • |
More effective decision making |
| • |
Improved strategic planning process |
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More effective SWOT analyses
|
| • |
Improved Sales and Marketing performance |
| • |
Greater understanding of industry trends and performance drivers |