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Should Strengths and Weaknesses be determined relative to competitors or firms own objectives?

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Final answer:

In determining strengths and weaknesses, it is important to consider both the competitors and the firm's objectives. Evaluating strengths and weaknesses relative to competitors helps a firm understand its position in the market while assessing the firm's objectives allows for a more focused analysis of its internal capabilities and limitations.

Step-by-step explanation:

In determining strengths and weaknesses, it is important to consider both the competitors and the firm's objectives. Evaluating strengths and weaknesses relative to competitors helps a firm understand its position in the market and identify areas where it has a competitive advantage or disadvantage. On the other hand, looking at the strengths and weaknesses of the firm's objectives allows for a more focused analysis of its internal capabilities and limitations.

User Chante
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