The Role of Gap Analysis in Identifying Business Opportunities
Introduction In the fast-paced world of business, identifying and exploiting opportunities is crucial for growth and sustainability. Gap analysis, a strategic tool, plays a pivotal role in this process. It involves comparing actual performance with potential or desired performance to identify areas of improvement or untapped markets. This article explores the role of gap analysis in uncovering business opportunities, discussing its methodology, benefits, and practical applications in various business scenarios. Understanding Gap Analysis Gap analysis is a method used by businesses to assess the difference between their current state and where they want to be. It’s a comprehensive process that evaluates various aspects of a business, including operational efficiency, market positioning, product…
