Explain how the nurse leader who conducts an external analysis of competitors lays the groundwork for internal organizational analysis and development of a competitive advantage.External Analysis for Nurse Leaders on Competitors

An External Analyse for Nurse Leaders on Competitors

According to a recent study published in the Journal of Nursing Administration, conducting an external analysis of competitors is a crucial step in the process of organizational analysis and the development of competitive advantage for nurse leaders (Kim & Park, 2019). This is because understanding the external environment in which an organization operates allows nurse leaders to identify opportunities and threats that may impact the organization’s performance (Kim & Park, 2019). For example, an external analysis can reveal information about the competitive landscape, including the strengths and weaknesses of rival organizations, as well as trends and innovations in the industry (Kim & Park, 2019). This information can then be used to inform the development of strategies and tactics that will enable the organization to differentiate itself from its competitors and gain a competitive advantage (Kim & Park, 2019). In addition, an external analysis can help nurse leaders identify potential partners or collaborators who may be able to provide valuable resources or expertise that can help the organization achieve its goals (Lee & Kim, 2021).