Competitive Factors

Competitive Factors

Competitive Factors Jonathan Poland

Competitive factors are external forces that impact a business’s strategy. They can be identified in any competitive situation. SWOT and PEST analysis are two common strategic planning tools that help identify these factors, which are often referred to as opportunities, threats, political, environmental, social, and technological factors. The following are some common examples.

Ability to Change (of competition) Access to Capital
Anti-Competitive Practices Attitudes & Values
Bargaining Power Barriers to Entry
Barriers to Exit Brand Image
Brand Recognition Brand Reputation
Business Models Business Risk
Capacity Climate & Weather
Consumer Perceptions Contract Terms (of competition)
Culture Change Customer Experience
Customer Loyalty Customer Needs
Customer Pain Points Customer Satisfaction (of competition)
Disaster Risk Distribution
Economic Conditions Economies of Scale
Employee Satisfaction (of competition) Financial Conditions (e.g. interest rates)
Functions & Features Government Policy
Infrastructure Intellectual Property
Know-how Labor Market Conditions
Location Management Efficacy (e.g. incompetence of competitors)
Market Share New Entries (into a market)
Operating Models Organizational Culture (how does the competition work)
Overhead Costs Partnerships
Permits & Licenses Political Environment
Political Stability Pollution
Price Competition Problems & Incidents (of the competition)
Product Development (i.e. future products of competition) Product Positioning
Product Quality Product Variety
Promotion Regulations & Compliance
Relational Capital Revenue Models
Service Quality Strategic Assets
Strategy of Competition Substitute Goods
Suppliers Supply
Supply Chain Switching Costs
Talent Taxation
Technological Change Trade Barriers
Trade Secrets Turnaround Times (of competition)
Unit Costs Usability
Learn More
Accountability Jonathan Poland

Accountability

Accountability refers to the responsibility of an organization or individual to provide explanations for their actions and accept responsibility for…

Performance Feedback Jonathan Poland

Performance Feedback

Performance feedback is any type of communication that evaluates an employee’s work performance and provides them with guidance on how…

Bankability Jonathan Poland

Bankability

Bankability is a term used to describe the ability of a project or venture to secure financing from a lender…

Professionalism Jonathan Poland

Professionalism

Professionalism is the practice of following the standards and expectations of one’s profession, organization, and role. It involves upholding the…

Public Capital Jonathan Poland

Public Capital

Public capital refers to the physical and intangible assets owned and managed by the government for the benefit of society.…

What is a Product Line? Jonathan Poland

What is a Product Line?

A product line refers to a group of related products that are marketed together as a single unit. Product lines…

Risk Impact Jonathan Poland

Risk Impact

Risk impact refers to the potential consequences or losses that an organization or individual may incur as a result of…

IT Architecture Jonathan Poland

IT Architecture

An IT architecture is a framework that describes the components of an information technology (IT) system, how they work together,…

Inferior Good Jonathan Poland

Inferior Good

An inferior good is a type of consumer good for which the demand decreases as the consumer’s income increases. In…

Content Database

Internal Benchmarking Jonathan Poland

Internal Benchmarking

Internal benchmarking is the process of comparing the performance of one aspect or function within a company to another aspect…

Cost Effectiveness Jonathan Poland

Cost Effectiveness

Cost effectiveness is the measure of the relationship between the costs and outcomes of a program, project, or intervention. It…

What is a Turnaround Strategy? Jonathan Poland

What is a Turnaround Strategy?

A turnaround strategy is a business plan that is implemented when a company is facing financial difficulties or declining performance.…

Daily Goals Jonathan Poland

Daily Goals

Daily goals are targets that you set for yourself to achieve on a particular day. These can include habits that…

Original Equipment Manufacturer Jonathan Poland

Original Equipment Manufacturer

An OEM (original equipment manufacturer) is a company that produces parts or equipment that is used in the manufacture of…

Budget Variance Jonathan Poland

Budget Variance

Budget variance is the difference between the budgeted amount and the actual amount spent on a department, team, project, or…

Cause and Effect Jonathan Poland

Cause and Effect

Cause and effect is a concept that refers to the relationship between an event (the cause) and a subsequent result…

Veblen Goods Jonathan Poland

Veblen Goods

Veblen goods are a type of consumer good that is perceived as being more valuable or desirable because of its…

What is Baseline? Jonathan Poland

What is Baseline?

A baseline is a reference point or starting point that represents the status or condition of something at a specific…