In organizations the analysis are performed for future operations. They take care of two analysis such as External and Internal. Internal analysis is within the organization. This is performed to find out some causes and effects for the result, and to take some steps on the mistakes. The internal analysis is performed because of some reasons. Those reasons are to identify strengths to make stronger, to overcome the weakness, formulating strategies for competitive advantage. A systematic approach for the internal analysis helps the organization to find out its position in terms of its strengths and weakness as well as resources, to find out the opportunities of the company in the near future. Apart from this, to find out the capability gaps so as to utilize them in proper way to achieve the growth.
The internal analysis is performed based on some techniques such as
1. Value chain Analysis
2. Quantitative Analysis - Financial and Non-financial
3. Qualitative analysis
4. Comparative Analysis - Historical, Industrial norms, Benchmarking.
5. Comprehensive Analysis - Balance Scorecard,
6. SWOT analysis.
7. Internal resources analysis
All these analysis gives the company different results so as to find out the mistakes from those. Finding out those and working on that for a right path is really helpful for the organization. Hence organizations do perform this analysis to stay for a long term in the market. This helps the company to be stronger than competitors. Hence these are very much helpful for the companies.
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