Company situation analysis and attainment of competitiveness in a dejected economy
Dr. William Phiri, Chansa Albert, Euphrasia Ng’andwe, Mainza A Malambo, Pukeni C Pride
It should be acknowledged that Patricia Kakompe, Clement Machayi, Sampa Rita Seketa, Clement A. Wamuwi, Moyo Ceaser and Elizabeth Ndhlovu are part of the authorship of this article. Building a successful competitive strategy requires a business to magnify its strengths and overcome or compensate for its weaknesses. Company situation analysis is inward looking and focus is on the internal environment. It is an important element in assessing an organizational overall situation and includes the identification of strengths and weaknesses in the internal environment. Strengths are positive internal factors that a company can draw on to accomplish its mission, goals and objectives. They might include special skills of knowledge a positive public image or superior product. Weaknesses are negative internal factors that inhibit a company’s ability to accomplish its goals and objectives. Lack of capital or shortage of skilled labor are some of the examples. Company situation analysis can be tackled from a number of different perspectives including; Cultural, Financial, Research and Development (R&D), Production, Marketing and Resourcing Perspectives. It is an application to strategy formulation, and its incorporation into strategic management and development links analytical tools such as SWOT analysis and Porter’s Value Chain to resource based planning. This article therefore, presents a critical review of company situation analysis.