How competitive relevant strengths and weakness can be used to suggest appropriate strategic actions?
Strategic plan analysis aims to identify direct competitors with similar strategic characteristics following similar strategies or competing on similar basis. Their strategic competitive relevant strengths and weakness focus on a addressing product or service diversity, geographic coverage and number of market segments, distribution channels, marketing and branding efforts, product or service quality, pricing, and policy (Erat, n.d.).
Competitive Relevant Strengths and Weakness to Suggest Appropriate Strategic Actions
Conducting an analysis of competitive strengths and weaknesses is an important task to identify strategies to react to internal and external forces and trends impacting an organization. The sociocultural and economic elements of the environment can influence the opportunities and resources made available to an organization. Furthermore, this analysis can help to recognize and classify important legal, technological, and corporate and leadership structures. Finally, identifying the processes systems, competitive advantage, goals, and culture can facilitate understanding their impact on the organization strategic plan's objective, measure, target, initiative, and costs.
Strategic Plan's Strengths
Popularity & Branding
The Coca Cola branding is easily recognized worldwide. Popularity is one of its superior strengths because of things like logos and promos shown on t-shirts, hats, and collectible memorabilia (Coca Cola, 2011).
Some people buy coke, not only because of its taste, but because it is widely accepted and they feel like they are part of something so big and unifying (Coca Cola, 2011).
The company's earnings are substantially better than most beverage companies, and with that money, the company reinvests into the company to improve the brand. Coca Cola reported first quarter cash from operations was $458 million. Net cash provided by financing activities ...