Industry analysis is a tool that facilitates a company’s understanding of its position relative to other companies that produce similar products or services. Understanding the forces at work in the overall industry is an important component of effective strategic planning. Industry analysis enables HR professionals to identify the threats and opportunities facing their businesses and to focus their resources on developing unique capabilities that could lead to a competitive advantage.7
How are HR professionals throughout our industry conducting their business? What are they doing that can be applied within our organization?