Maggie uses a strategic management tool to garner useful information about the competition, the market, and the technology that can be utilized by managers to make strategic decisions. Using this tool, Maggie is able to learn about potential competitors. Maggie is probably using ______________.

Question

Quizplus · Accepted Answer

Competitive intelligence is a strategic management tool that involves gathering and analyzing information about competitors, the market, and the technology that can be used to make informed strategic decisions. This tool helps businesses to understand their strengths and weaknesses relative to their competitors, identify new opportunities in the market, and develop effective strategies for growth and success. Porter's Five Forces Model, benchmarking, and the PEST model are also useful strategic management tools, but they focus on different aspects of the business environment and may not be as effective for identifying potential competitors.

Maggie Uses a Strategic Management Tool to Garner Useful Information