IGNOU MCO 23 2025 2026 - Competitor analysis is one of the major components of strategy formula

Question

Competitor analysis is one of the major components of strategy formulation.

24 Oct 2025

Answer :

Word Count : 194

Competitor analysis plays a critical role in strategic management as it provides a clear understanding of the market landscape and the relative positioning of rival firms. By systematically evaluating competitors’ strengths, weaknesses, strategies, and resources, organizations can identify opportunities for differentiation and areas

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