Business and personal analysis (article)

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The importance of business and personal analysis

This article by Derek Stockley provides an examination of the types of personal and business analysis that can be undertaken.

Business analysis

I was driving along a major highway recently when my passenger requested that I stop at a major shopping centre. He had spotted a large store for a major competitor and wanted to "check it out".

I was happy to oblige, as it was interesting for me to observe the factors he used in his quick analysis. We both observed that the competitor had very competitive pricing, with significant differences in some lines. Their range was also very extensive.

Competitive analysis is very important, whether it is a physical visit or 'desktop' research. Reviewing internet websites or advertising in magazines and newspapers can yield useful information. We probably could do more. It should be a regular (scheduled) activity.

Personal analysis

Analysis can also be done at the personal level. Personal or self management is important. Reviewing your current activities is always time well spent.

The way we analyse ourselves is always interesting.

The old analogy of the jug half-filled with water comes to mind. Is it half-full? Or half empty?

'Full' reflects a positive analysis, whilst 'empty' reflects a negative view.

Analysis should not lead to despair. There are many examples of people overcoming incredible difficulties. The TV current affairs shows here in Australia often feature stories of tremendous heroism and determination.

Summary and reflection

These weekly articles often invite self analysis, so in keeping with tradition, qualities and actions for you to ponder include:

  • Are you checking out your competitors or other organisations in the same industry?

  • Are you consistently providing superior service to your customers, whether they are internal to your organisation, or external?

  • How do you view the world - almost empty or almost full?

These are all ongoing questions in our life journey.

Related articles

Personal success - the impact people have on others - Derek Stockley details three conversations that highlight a concept of personal success (a very personal article).

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