Many companies use a(n) _____ to evaluate where they stand relative to the competition.

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A SWOT analysis is a strategic tool used by companies to assess their strengths, weaknesses, opportunities, and threats in relation to the competition. This enables them to identify areas where they need to improve and areas where they have an advantage over their competitors. Contingency plans are used to prepare for unexpected events or emergencies, tactical plans are short-term plans for achieving specific goals, and organization charts show the structure and hierarchy of a company. While these tools may be useful for other purposes, they are not specifically designed to evaluate a company's position relative to its competitors.

Many Companies Use A(n) _____ to Evaluate Where They Stand