Which two techniques aid in decisions about where an organization wants to go?Multiple select question.business portfolio analysisbenchmarking analysismarket-product analysisprofitability analysis
Question
Which two techniques aid in decisions about where an organization wants to go?Multiple select question.business portfolio analysisbenchmarking analysismarket-product analysisprofitability analysis
Solution
The two techniques that aid in decisions about where an organization wants to go are:
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Business Portfolio Analysis: This technique involves evaluating the products and services of a business to determine which ones are profitable and which ones are not. It helps in making decisions about where to invest, where to disinvest, and where to further develop products or services.
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Benchmarking Analysis: This is a process of measuring an organization's products, services, or processes against those of the best-in-class companies, within or outside the industry. The goal is to identify best practices that can be adopted and implemented to become more competitive in the market.
These two techniques can provide valuable insights into the current state of the organization and guide strategic decisions about future directions.
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