Strategic technique is basically used to evaluate surrounding competitors and the analysis done by the company to check weaknesses and strengths that a organization’s competitors may have. After, that information helps to improve efforts within the company. An effective analysis will first obtain important information from competitors and then based on this information calculate, that how the competitor will react under certain conditions.
Swot analysis is particular tool which helps help you uncover opportunities that you are well-placed to exploit. Basically, it can understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares. Moreover, by looking at the organization and the competitors using the SWOT framework, you can start to craft a strategy that helps you to differ your organization from your competitors, so that you can compete successfully in your market.