Competitor analysis in competitive accounting

Abstract

In the highly competitive business environment, businesses must control and efficiently utilize their resources to create added customer value. Additionally, businesses must pay special attention to their competitors. The actions of competitors directly impact the strategy and effectiveness of a business's operations. Therefore, depending on specific strategic goals, businesses must analyze competitors and implement competitive accounting to take practical, responsive actions for success in the competitive marketplace. This article analyses and identifies competitors as a basis for implementing competitive accounting within businesses.