A deep understanding of competition and your comparative strengths and weaknesses is imperative to the development of a successful growth strategy. Tompkins’ competitive analysis tools cover competitor profiling, SWOT and benchmarking. The competitive analysis involves both primary and secondary research to develop an industry snapshot.
Tompkins uses a five-step benchmarking methodology which results in the identification of best practices, strategies, and performance metrics.
Want to know how to incorporate benchmarking and best practices into your overall operations? Find out how here.