Analyzing the Internal/External Competitive Profile Matrix from Coursera

By the end of this guided project, you will be able to use the Internal/External Competitive Profile Matrix to analyze your industry and identify opportunities to create a competitive advantage for your company. The Matrix is a strategic management tool that enables you to benchmark you company in relation to competition and then identify the relative strengths and weaknesses of all the competitors based on external and internal factors. The Internal/External Competitive Profile Matrix was developed to address the limitations on the traditional Competitive Profile Matrix. Weaknesses such as subjective assigning of weight and raking. Therefore, the External/Internal Competitive Profile Matrix allows uniform weight, and force raking to provide a more comprehensive analysis and decision-making.

To demonstrate the application of the Matrix, we will use a spreadsheet to analyze a division of a Fast-Food company. Example of the case study would empower you to use the model to analyze your company or any other company of your choice. The project is for business leaders who want have a deep insight on their competitive environment and how their company fare relative to competition. Also, for strategist who are interested in helping organization in making informed strategic decisions. At the end of the project, you will be able to use the Matrix to analyze your company, and make informed decisions to create a competitive advantage

What's inside

Syllabus

Project Overview

By the end of this guided project, you will be able to use the Internal/External Competitive Profile Matrix to analyze your industry and identify opportunities to create a competitive advantage for your company. The Matrix is a strategic management tool that enables you to benchmark you company in relation to competition and then identify the relative strengths and weaknesses of all the competitors based on external and internal factors. At the end of the project, you will be able to use the Matrix to analyze your company, and make informed decisions to create a competitive advantage

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores an industry analysis approach, which is practiced in various organizations

Empowers learners to make strategic decisions and gain a competitive edge

Provides a structured framework for analyzing competitors and identifying opportunities

Applicable to a range of business and corporate contexts

Utilizes a spreadsheet to demonstrate the practical application of the concept

Requires prerequisite knowledge in strategic management

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Analyzing the Internal/External Competitive Profile Matrix with these activities:

Review previous coursework or study materials on strategic management and competitive analysis concepts

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Refreshing your knowledge will provide a strong foundation for understanding the concepts covered in this course.

Browse courses on Strategic Management

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Gather your previous coursework or study materials.
Review the key concepts and theories related to strategic management and competitive analysis.
Take notes and summarize the main points.
Test your understanding by answering practice questions or creating mind maps.

Review tutorial videos on how to conduct competitive analysis using the Internal/External Competitive Profile Matrix

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Watching a tutorial will guide you through the steps involved in creating a matrix, providing you with a clear understanding of the concepts.

Browse courses on Competitive Analysis

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Search for tutorials on YouTube or other video-sharing platforms.
Choose a tutorial that is clear and easy to follow.
Watch the tutorial carefully and take notes.
Apply the concepts you learned to create your own Internal/External Competitive Profile Matrix.

Practice creating External/Internal Competitve Profile Matrices

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Creating practice matrices will reinforce course concepts and allow you to apply your understanding to different scenarios.

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Choose an industry and company to analyze.
Identify the external and internal factors that are relevant to the company's competitive position.
Rate the company's performance on each factor on a scale of 1 to 5.
Create a matrix that plots the company's ratings on the external and internal factors.
Analyze the matrix to identify the company's strengths, weaknesses, opportunities, and threats.

Four other activities

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Create a compilation of resources on the Internal/External Competitive Profile Matrix

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Creating a resource compilation will allow you to organize and access relevant information on the topic, aiding your understanding and retention.

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Gather resources such as articles, videos, and tutorials on the Internal/External Competitive Profile Matrix.
Organize the resources into a central location, such as a shared document or online folder.
Create a summary of each resource, highlighting its key points.
Share the compilation with your peers or mentors for feedback.

Develop a marketing plan for a company using the Internal/External Competitive Profile Matrix

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Developing a marketing plan will provide you with an opportunity to apply the concepts you learn to a real-world scenario and evaluate your understanding.

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Select a company and industry to focus on.
Conduct research to gather information on the company's competitors, market, and customers.
Use the Internal/External Competitive Profile Matrix to identify the company's strengths, weaknesses, opportunities, and threats.
Develop a marketing plan that addresses the company's competitive position and objectives.
Present your marketing plan to a group of peers or mentors for feedback.

Attend a workshop on competitive analysis using the Internal/External Competitive Profile Matrix

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Attending a workshop will provide you with the opportunity to learn from experts and apply the concepts to real-world scenarios.

Browse courses on Competitive Analysis

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Research workshops in your area or online.
Choose a workshop that is relevant to your interests and learning goals.
Register for the workshop and attend all sessions.
Participate in discussions and ask questions.
Apply the concepts you learned to your own work.

Lead a peer discussion session on the Internal/External Competitive Profile Matrix

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Leading a peer session will allow you to share your knowledge with others and reinforce your understanding of the concepts.

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Prepare a presentation on the Internal/External Competitive Profile Matrix.
Organize a peer discussion session.
Lead the discussion and encourage participation from all attendees.
Answer questions and provide guidance.
Summarize the key points of the discussion.

Career center

Learners who complete Analyzing the Internal/External Competitive Profile Matrix will develop knowledge and skills that may be useful to these careers:

Business Analyst

A Business Analyst is tasked with examining an organization's operations and systems to identify areas for improvement. The course, Analyzing the Internal/External Competitive Profile Matrix, can help prepare one for this role by providing an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Business Analyst to make better recommendations for how to improve an organization's performance.

See salaries and explore the career path for Business Analyst

Marketing Manager

A Marketing Manager is responsible for planning and executing marketing campaigns to promote a company's products or services. This course can help prepare one for a career in Marketing Management by providing an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Marketing Manager to develop more effective marketing campaigns.

See salaries and explore the career path for Marketing Manager

Product Manager

A Product Manager is responsible for the development and launch of new products. This course can be of value to those who aspire to be Product Managers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Product Manager to develop products that meet the needs of customers and achieve commercial success.

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Strategic Planner

A Strategic Planner is responsible for developing and implementing strategic plans for an organization. This course can be useful for aspiring Strategic Planners as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Strategic Planner to develop more effective strategic plans.

See salaries and explore the career path for Strategic Planner

Management Consultant

A Management Consultant advises companies on how to improve their performance. This course may be helpful for aspiring Management Consultants as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Management Consultant to provide better advice to clients.

See salaries and explore the career path for Management Consultant

Entrepreneur

An Entrepreneur starts and runs their own business. This course may be of value to aspiring Entrepreneurs as it provides an understanding of how to analyze a competitive environment and identify opportunities to create a competitive advantage. This knowledge can help an Entrepreneur to develop a more successful business.

See salaries and explore the career path for Entrepreneur

Financial Analyst

A Financial Analyst provides financial advice to individuals and organizations. This course may be useful for aspiring Financial Analysts as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Financial Analyst to provide better advice to clients.

See salaries and explore the career path for Financial Analyst

Investment Banker

An Investment Banker assists companies in raising capital and advising on mergers and acquisitions. This course may be helpful for aspiring Investment Bankers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help an Investment Banker to provide better advice to clients.

See salaries and explore the career path for Investment Banker

Private Equity Investor

A Private Equity Investor invests in private companies with the goal of generating a high return on investment. This course may be useful for aspiring Private Equity Investors as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Private Equity Investor to make better investment decisions.

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Venture Capitalist

A Venture Capitalist invests in early-stage companies with high growth potential. This course may be useful for aspiring Venture Capitalists as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Venture Capitalist to make better investment decisions.

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Corporate Strategist

A Corporate Strategist develops and implements strategic plans for a corporation. This course may be useful for aspiring Corporate Strategists as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Corporate Strategist to develop more effective strategic plans.

See salaries and explore the career path for Corporate Strategist

Business Development Manager

A Business Development Manager is responsible for generating new business for a company. This course may be useful for aspiring Business Development Managers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Business Development Manager to develop more effective business development strategies.

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Sales Manager

A Sales Manager is responsible for leading and motivating a sales team to achieve sales targets. This course may be useful for aspiring Sales Managers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Sales Manager to develop more effective sales strategies.

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Account Manager

An Account Manager is responsible for managing relationships with existing customers. This course may be useful for aspiring Account Managers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help an Account Manager to develop more effective customer relationship management strategies.

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Customer Success Manager

A Customer Success Manager is responsible for ensuring that customers are satisfied with a company's products or services. This course may be useful for aspiring Customer Success Managers as it provides an understanding of how to analyze a company's competitive environment and identify opportunities to create a competitive advantage. This knowledge can help a Customer Success Manager to develop more effective customer success strategies.

See salaries and explore the career path for Customer Success Manager