Creating and maintaining the functioning of a successful business is not an effortless process. It is necessary to consider many factors that are constantly changing in modern society for its successful implementation. Another critical factor in maintaining the vital activity of any business is analysis. The business analysis consists of complicated aspects that work together in one system. They are called strategy analysis, accounting analysis, financial analysis, and prospective analysis. This paper will state the general idea of strategy analysis in the business analysis concept and provide a specific example of the UPS organization, which is actively using the concept in their operations.
Strategy Analysis in Business Area
Business analysis is a crucial aspect of management that identifies organizations’ needs and helps to adjust valuable solutions to existing problems. In addition, business analysis allows companies to observe their development, set the right objectives, and estimate risks caused by changes in markets (Stedman and Burns). The most common solution usually includes software systems and changes in control strategies to optimize the performance and motivation of workers. One of the common features of the business analysis is strategy analysis, which creates bases for the concept’s further aspects. The strategic analysis includes researching and identifying existing problems and issues that might appear in the future (Grant 58). Moreover, the strategy starts generating possible ways of overcoming facts that threaten the flow of businesses.
Strategy Analysis at UPS Organization
Strategy analysis is a basic part of the whole business process that shows the business’s overall performance. It sets clear goals for the company, determines how to achieve them, and contributes to its development. The strategy is based on a transparent algorithm that the company adheres to throughout its activities. Strategy analysis usually includes industry, competitive, and corporate strategy analysis (Palepu and Healy 2-2). The concept process is not complex, and managers should evaluate internal and external influencers to analyze the current strategy and improve it. When all possible strategies are implemented, it is crucial to make alternative ways of the business flow to ensure the organization’s stability.
United Parcel Service (UPS) company is engaged in cargo transportation and delivers people’s parcels worldwide. Its main competitors are FedEx and DHL, which are also involved in delivery. The company uses a strategy of strength and weakness to use the existing variety of services and opportunities and compete in the market successfully. By applying the strategy analysis techniques, the company expands and improves advertising, makes transparent prices for services available to everyone, and provides value for money. Moreover, it predicts all potential problems and evaluates its competitors’ solutions.
Analyzing the possible improvement in the provision of services, the following steps can be put forward. Firstly, they can take through innovations that contribute to the progress of the service and improve their digital abilities. Secondly, one of the strategies is the development of might-time delivery services to increase customers’ loyalty. Thirdly, production of rewards that consumers will receive when using UPS services often. These strategies show the importance of the concept as they create the general vision of plans and ideas that should be implemented and supported financially. Thus, UPS has already established itself as a provider of quality services. UPS can become the most prominent participant in the delivery market by continuing and developing its strategy analysis.
Works Cited
Grant, Robert. Contemporary Strategy Analysis. Wiley, 2021.
Palepu, Krishna and Paul M. Healy. Business Analysis and Valuation: Using Financial Statements. 5th ed., 2022.
Stedman, Craig, and Ed Burns. “Business Intelligence (BI).” TechTarget, 2020.