Competitive intelligence may be defined as the process of systematically scanning the business environment and identifying and assessing potential opportunities and threats (Louw & Venter, 2019). Naked wants to improve their market share in South Africa and is considering acquiring Granadilla Insurance (a competitor) to do so. Granadilla Insurance focuses mainly on the gadget and small business insurance compared to Naked, which focuses on car and household insurance. As a strategic consultant for Naked, you are tasked to advise Naked. Your answer should contain the following points: •Provide a brief introduction to strategic decision making and macro -environmentalanalysis. •Complete a CI cycle on Naked’s consideration to add small business insurance to theirpolicy options. •In conjunction with the CI cycle, conduct a macro-environmental analysis (PESTEL analysis)for Naked on the South African market. •Compare the outcomes of a SWOT analysis for both Naked’s current policy offers (car andhousehold insurance) and the SWOT analysis of a small business insurance policy optionrespectively. •Conclude whether it is in the interest of Naked to add small business insurance to theirpolicy options, by acquiring Granadilla Insurance. Provide reasons for your answer.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Competitive intelligence may be defined as the process of systematically scanning the business environment and identifying and assessing potential opportunities and threats (Louw & Venter, 2019). Naked wants to improve their market share in South Africa and is considering acquiring Granadilla Insurance (a competitor) to do so. Granadilla Insurance focuses mainly on the gadget and small business insurance compared to Naked, which focuses on car and household insurance. As a strategic consultant for Naked, you are tasked to advise Naked. Your answer should contain the following points: •Provide a brief introduction to strategic decision making and macro -environmentalanalysis. •Complete a CI cycle on Naked’s consideration to add small business insurance to theirpolicy options. •In conjunction with the CI cycle, conduct a macro-environmental analysis (PESTEL analysis)for Naked on the South African market. •Compare the outcomes of a SWOT analysis for both Naked’s current policy offers (car andhousehold insurance) and the SWOT analysis of a small business insurance policy optionrespectively. •Conclude whether it is in the interest of Naked to add small business insurance to theirpolicy options, by acquiring Granadilla Insurance. Provide reasons for your answer..

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