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Home Nursing Provider

In: Business and Management

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THE VALUE OF ANALYTICAL TOOLS IN COMPETITIVE ANALYSIS:
HOME NURSING PROVIDERS

ABSTRACT

In business, analytics tool is a fast emergent field and there are many tools obtainable in the market to serve the essential needs of organizations. Analytical tools are used to help managers in making clear decision on the outcome of their findings enabling a shift in how businesses support operational decisions: from intuition to data-driven. Thus, analytics tools enable businesses to make better, more informed decisions and compete more successfully. In today’s global business environment, managers require the latest analytical and decision-support tools to cope with market complexity, regulatory change and pervasive uncertainty. For companies, the most valuable tools are those woven into the fabric of day-to-day business activities: forecasting trends, sizing markets, benchmarking practices, assessing risks, and quantifying results.

INTRODUCTION

Strategic analysis as an independent object of scientific study has been dealt with but insufficiently (Vaitkevičius et al., 2002). It has been reviewed, however, by comparatively numerous authors. It may be stated that some authors assigned more functions to strategic analysis (Lindblom, 1959); Cyert and March, 1963; Hammeresh et al., 1978; Porter, 1980; Stoner and Fry, 1987; Johnson and Scholes, 1993; Rowe et al., 1994; Grant, 1998; Peel et al., 1996; Godet, 2000; Barnes, 2002; Analoui and Karami, 2003; Eng, 2004; McNamee et al., 2004), others much fewer (Clark and Scott, 1995; Clark, 1997). All these authors, however, state that strategic analysis is an essential element in forming the strategy of the organization. Kaye and Dyason (1998) proved that if preliminary strategic analysis is missing, the organizations start implementing their strategy without having a clear set of goals.

As early as 1980, Eilon marked…...

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