1. determine the scope of benchmarking enterprises

The first step in enterprise research is to determine the scope of benchmarking enterprises, that is, to identify which enterprises are our benchmarking enterprises, or may become our benchmarking enterprises. The scope of benchmarking enterprises includes not only enterprises that currently compete directly, but also enterprises that compete potentially, as well as enterprises that compete indirectly. Potentially competitive companies are those that have the ability and willingness to enter our market, such as cross-industry companies, emerging companies, or international companies. Indirectly competitive firms are those that offer substitutes or supplements, such as different types of products or services, or different consumption scenarios.

There are many ways to determine the scope of benchmarking enterprises, such as market share, product category, customer group, geographic region, channel approach, value proposition and other dimensions, or using Porter's five-force model to analyze competitive forces in the industry and identify threatening benchmarking enterprises. The purpose of determining the scope of benchmarking enterprises is to narrow the scope of research and select the most important benchmarking enterprises for in-depth analysis.

Case in point: Shangpu Consulting provided enterprise research services to an online education platform to help it define the scope of the benchmark enterprise. According to the segmentation of the online education market, Shangpu Consulting first divided the benchmark enterprises into four categories: K12 education, vocational education, interest education, and lifelong education. Then, according to the customer's product positioning, vocational education and lifelong education are selected as the main competitive fields, and more than a dozen representative benchmark enterprises are selected as the objects of follow-up analysis according to the dimensions of market share, product form, customer portrait, channel model, profit model and so on.

2. collection of benchmarking enterprise information

The second step of enterprise research is to collect information about benchmarking enterprises, that is, to obtain relevant data and information about benchmarking enterprises to provide a basis for subsequent analysis. Information on benchmarking companies includes the following:

Basic information: including the name, logo, slogan, establishment time, place of registration, legal representative, shareholder structure, organizational structure, employee size, main products, main customers, main partners, main suppliers, main distributors, etc.

Financial information: including the benchmark enterprise's revenue, profit, cost, assets, liabilities, cash flow, investment, financing, market value, valuation, financial ratio, etc.

Market information: including market share, market growth rate, market size, market segmentation, market positioning, market opportunities, market threats, etc.

Marketing information: including product strategy, price strategy, promotion strategy, channel strategy, brand strategy, customer relationship management, public relations activities, advertising, social media, word-of-mouth evaluation, etc.

R & D information: including the technical level of benchmarking enterprises, technological innovation, technology patents, technical cooperation, technology transfer, R & D investment, R & D team, R & D projects, R & D results, etc.

Human resources information: including the talent strategy of benchmarking enterprises, talent recruitment, talent training, talent incentive, talent loss, talent structure, talent quality, talent culture, talent satisfaction, etc.

There are many ways to collect benchmarking enterprise information, such as using public information sources, such as official websites, annual reports, news, social media, industry reports, third-party data platforms, etc., or using non-public information sources, such as questionnaires, research interviews, secret customers, espionage, etc. The purpose of collecting benchmarking enterprise information is to obtain as comprehensive, accurate, timely, and valuable information as possible to support subsequent analysis.

Case: Shangpu Consulting Company collected the information of benchmarking enterprises for an online education platform. It used various information sources, such as the official website of benchmarking enterprises, financial reports, news, social media, user comments, industry reports, third-party data platforms, etc., to obtain the basic information, financial information, market information, marketing information, R & D information, and human resources information of benchmarking enterprises. Shangpu Consulting also collected some non-public information of benchmarking enterprises, such as customer satisfaction, employee satisfaction, product advantages and disadvantages, price sensitivity, brand loyalty and so on, through questionnaires, research interviews, secret customers and so on.

3. analysis benchmarking corporate strategy

The strategic analysis of benchmarking enterprises can help enterprises understand the behavior patterns of benchmarking enterprises, predict the future trends of benchmarking enterprises, evaluate the advantages and disadvantages of benchmarking enterprises, and formulate effective competitive strategies. There are many ways to analyze the strategy of benchmarking enterprises, such as using SWOT analysis to analyze the advantages, disadvantages, opportunities, and threats of benchmarking enterprises, or using VRIO analysis to analyze the value, scarcity, non-replication, and organization of benchmarking enterprises, or using value chain analysis to analyze the main activities, auxiliary activities, and value creation of benchmarking enterprises. The purpose of analyzing the benchmarking enterprise strategy is to reveal the core competitiveness, competitive advantages, and competitive disadvantages of benchmarking enterprises, and to provide a basis for subsequent countermeasures.

Case: Shangpu Consulting analyzed the strategy of benchmarking enterprises for an online education platform, using SWOT analysis, VRIO analysis, and value chain analysis to reveal the strategic characteristics of benchmarking enterprises from different perspectives. For example, Shangpu Consulting found that the advantages of Benchmarking Enterprise A are strong brand influence, high-quality course content, and loyal customer base. Its disadvantages are higher price, single channel, and weak innovation ability. Its opportunities are market demand growth, policy support, and international expansion. Its threats are new entrants, substitutes, and regulatory risks. Shangpu Consulting also found that the core resource of Benchmarking Enterprise A is its brand, its core competence is its content production, its core value is its teaching quality, its core activity is its curriculum development, its core cost is its teacher fees, and its core income is its curriculum sales.

4. Evaluation Benchmarking Enterprise Advantages and Disadvantages

The fourth step of enterprise research is to evaluate the advantages and disadvantages of benchmarking enterprises, that is, to compare the performance of benchmarking enterprises and themselves in various aspects, to determine the strengths and weaknesses of benchmarking enterprises, and to find out their own advantages and disadvantages. Evaluating the advantages and disadvantages of benchmarking enterprises can help enterprises understand their relative position in the market, find their own differentiated advantages, make up for their competitive disadvantages and enhance their competitiveness. There are many ways to evaluate the advantages and disadvantages of benchmarking enterprises, such as using comparative analysis to compare the data of benchmarking enterprises and themselves on various indicators, or using benchmark analysis to compare the efficiency of benchmarking enterprises and themselves on various processes, or using advantages and disadvantages analysis to compare the quality of benchmarking enterprises and themselves on various elements. The purpose of evaluating the advantages and disadvantages of benchmarking enterprises is to find out their competitive advantages, competitive disadvantages, and competitive space, and to provide reference for subsequent strategy formulation.

Case: Champu Consulting assessed the strengths and weaknesses of benchmarking companies for an online education platform, using comparative analysis, benchmarking analysis, and strengths and weaknesses analysis to compare the performance of benchmarking companies and themselves from different perspectives. For example, Shangpu Consulting Company found that Benchmarking Enterprise A outperforms itself in terms of market share, brand awareness, customer satisfaction, course quality, etc. Its advantage is its brand power, its disadvantage is its high price, and its space is its single channel. Shangpu Consulting also found that Benchmarking Enterprise A is less efficient than itself in terms of curriculum development, teacher recruitment, and customer service. Its advantage is its content production, its disadvantage is its innovation ability, and its space is its international expansion.

5. predict the future actions of benchmarking enterprises

The fifth step of enterprise research is to predict the future actions of the benchmarking enterprise, that is, to infer the future goals, plans, strategies, and initiatives of the benchmarking enterprise, and to predict the future changes, impacts, and threats of the benchmarking enterprise. Predicting the future actions of benchmarking enterprises can help enterprises prepare in advance, seize opportunities, meet challenges and avoid risks. There are many ways to predict the future actions of benchmarking enterprises, such as using scenario analysis to construct different scenarios and analyze the possible reactions of benchmarking enterprises, or using game theory analysis to construct different games and analyze the optimal choice of benchmarking enterprises, or using trend analysis to analyze the historical data of benchmarking enterprises and predict the future trend of benchmarking enterprises. The purpose of predicting the future actions of benchmarking enterprises is to improve their early warning ability, adaptability, and competitiveness, and to provide a basis for subsequent strategic adjustments.

Case: For an online education platform, Shangpu Consulting predicted the future actions of benchmarking companies, using scenario analysis, game theory analysis, and trend analysis to speculate on the future changes of benchmarking companies from different perspectives. For example, Shangpu Consulting found that benchmarking company A may adopt strategies to expand its scale, increase courses, expand channels, reduce prices, and increase market share in the face of growing market demand, creating greater competitive pressure on itself. Shangpu Consulting also found that benchmarking company A may choose to cooperate with the government to obtain policy preferences, improve brand image, and increase customer trust under the game of policy support, which will pose a greater competitive threat to itself. Shangpu Consulting also found that in the face of the trend of international expansion, benchmarking company A may choose to enter new markets, develop new products, establish new cooperation, and increase its international influence. Competitive challenge.

6. development of response measures

The sixth step of enterprise research is to formulate countermeasures, that is, according to the advantages and disadvantages of benchmarking enterprises, future actions, and their impact on themselves, formulate targeted coping strategies to improve their competitive advantages, reduce their competitive disadvantages, and increase their competitive space. There are various approaches to developing a response, such as using Porter's competitive strategy model, choosing a strategy of cost leadership, differentiation, or centralization, or using Ansoff's growth matrix model, choosing a strategy of market penetration, market development, product development, or diversification, or using a blue ocean strategy model, choosing a strategy of elimination, reduction, enhancement, or creation. The purpose of developing response measures is to improve their market share, market growth rate, market profit, and market loyalty to achieve their strategic goals.

Case: Champ Consulting developed a response for an online education platform, using Porter's competitive strategy model, Ansoff's growth matrix model, and the Blue Ocean strategy model to propose targeted response strategies from different perspectives. For example, Shangpu Consulting Company suggests that in view of the brand strength advantage of benchmarking enterprise A, it can adopt differentiation strategy, highlight its own product characteristics, service characteristics, and cultural characteristics, build its own brand image, improve its own brand awareness, and brand loyalty. Shangpu Consulting also suggested that for the international expansion plan of benchmarking company A, it can adopt market development strategies to enter new markets, expand new customers, establish new partnerships, and increase its market share and market growth rate. Shangpu Consulting also suggested that in view of the disadvantage of benchmarking enterprise A's innovation ability, it can adopt creative strategies, develop new products, introduce new technologies, create new value, improve its product quality, and product competitiveness.

7. monitoring benchmarking enterprise change

The seventh step of enterprise research is to monitor the changes of benchmarking enterprises, that is, to continuously pay attention to the information, strategies, actions, and effects of benchmarking enterprises, and to discover new trends, new changes, new influences, and new threats of benchmarking enterprises in a timely manner. Monitoring the changes of benchmarking enterprises can help enterprises adjust their strategies in time, cope with the changes of benchmarking enterprises, maintain their competitive advantages, avoid their competitive disadvantages, and expand their competitive space. There are many ways to monitor the changes of benchmarking enterprises, such as using information system, establishing benchmarking enterprise information database, regularly updating benchmarking enterprise information, or using evaluation system, establishing benchmarking enterprise evaluation index, regularly evaluating benchmarking enterprise performance, or using early warning system, establishing benchmarking enterprise early warning signal, regularly warning benchmarking enterprise risk. The purpose of monitoring the changes of benchmarking enterprises is to maintain their competitive sensitivity, competitive flexibility, and competitive stability, and to achieve their own strategic adjustment.

Case: Shangpu Consulting Company monitored the changes of benchmarking enterprises for an online education platform, using information systems, evaluation systems, and early warning systems to pay attention to the new trends of benchmarking enterprises from different angles. For example, Shangpu Consulting Company uses the information system to regularly collect benchmark enterprise news, financial reports, social media, user comments, industry reports, third-party data platforms and other information, update the benchmark enterprise information base, and timely feedback to customers. Shangpu Consulting uses the evaluation system to regularly compare the performance of benchmarking enterprises and themselves in market share, market growth rate, market profit, market loyalty and other indicators, update the benchmarking enterprise evaluation indicators, and timely feedback to customers. Shangpu Consulting Company uses the early warning system to regularly monitor the new products, new strategies, new cooperation, new risks and other signals of benchmarking enterprises, update the early warning signals of benchmarking enterprises, and give timely feedback to customers.

Conclusion

Enterprise research is an important strategic analysis work, which can help enterprises understand their position in the market, find their own advantages and disadvantages, formulate effective competitive strategies, and enhance their competitiveness. This paper introduces the seven steps of enterprise research, namely: determining the scope of benchmarking enterprises, collecting information of benchmarking enterprises, analyzing the strategy of benchmarking enterprises, evaluating the advantages and disadvantages of benchmarking enterprises, predicting the future actions of benchmarking enterprises, formulating countermeasures and monitoring the changes of benchmarking enterprises. This paper also shows the practical method and value of enterprise research in combination with the specific case of enterprise research services provided by Shangpu Consulting Company for customers. I hope this article can be helpful to you, so that you can better understand the benchmark enterprises and better cope with the competition.