Activity 1: Industry, Market, and Competitors Analysis Report Introduction Starting and managing a new business takes lots of planning and research. Therefore, all management professionals must invest time and effort to evaluate the industry, the market conditions, and the immediate competitors as previous strategies prior to the transformation of a business idea into a realistic opportunity. To this end, the industry analysis will help these professionals review the industry’s recent performance, its current status, and the outlook for the future. The market analysis will help determine the target market to sell products or promote services. Finally, the competitors analysis will help identify possible competitors, their current market strength, the existing threat, and magnitude. In sum, these various analysis will empower management professionals to make educated decisions regarding the direction of an enterprise.
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