Strategic analysis is concerned with understanding the strategic position of the organisation. From a business perspective, competition refers to rivalry among firms operating in a market to fill the same customer’s needs. Competition is a basic essential in the free enterprise system. The term competition defies true definition because the view of competition held by different groups varies.
The central purpose of information is for planning. Management requires information about customers, markets, competition and other environmental variables in order to plan effectively. Information is the medium of control. Management seeks relevant information such as sales, market share and expenses to monitor performance. Information gathered either on an ad hoc or continuous basis can be used as a guide to predicting future trends.