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Conducting an Internal Analysis

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There are several ways to conduct internal analysis (ex. benchmarking, analysis of historical performance, etc.). Need assistance in selecting one, describe it, and apply it to a corporation (ex. find a company that has effectively used it) in 200-300 words.

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Solution Summary

This solution focuses on the internal business analysis from a competitive benchmarking perspective highlighting CEO Jack Welsh approach during his tenure at General Electric.

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Definitive Outlook (Competitive Benchmarking)

Benchmarking is a measurement tool used by managers to make company improvements. (Enotes, 2013) In addition to improvement strategies in areas such as quality management, employee performance, product innovation, cost leadership, and so forth, different types of benchmarking are used to gather data both quantitative and qualitative. One of the most popular reasoning and rationale for benchmarking is to ultimately gain a competitive advantage. Therefore, the primary goal of competitive benchmarking is to be the best organization in its industry.

Internal Analysis (General Electric)

Competitive benchmarking represents a continuous process of improvement in organizational functions. (Business Dictionary.com, n.d.) These efforts of performing in a ...

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