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  2. A gap analysis is important in business because it helps to12345:
    1. Identify differences between the current state and desired goals.
    2. Prioritize areas for improvement.
    3. Shield businesses from potential pitfalls.
    4. Give businesses a competitive advantage.
    5. Assess gaps caused by market shifts, product introductions, or process enhancements.
    Learn more:
    A gap analysis looks for the reasons you aren’t achieving certain business goals. It considers where you are, where you want to be and looks for the reasons preventing your success. With that information, you are able to create an action plan that closes the gaps.
    www.forbes.com/advisor/business/what-is-gap-ana…
    Gap analysis is a method to identify the differences between the current state and desired goals. By measuring performance metrics and evaluating resources, it helps pinpoint efficiency gaps and areas for improvement, guiding strategic planning and business improvement initiatives.
    tms-outsource.com/blog/posts/gap-analysis/
    A gap analysis is the means by which a company can recognize its current state—by measuring time, money, and labor—and compare it with its target state. By defining and analyzing these gaps, the management team can create an action plan to move the organization forward and fill in the performance gaps.
    www.investopedia.com/terms/g/gap-analysis.asp

    Why Is a Gap Analysis in Business Important?

    • 1. Allows to Prioritize Areas of Improvement One key benefit of gap analysis is that it enables you to recognize and prioritize areas for improvement. ...
    www.visme.co/blog/what-is-gap-analysis/

    Some of the reasons why a business might choose to perform a Gap Analysis are [3], [4]:

    • Assess gaps between new strategies and existing resources to guide informed adjustments for successful shifts.
    strategicmanagementinsight.com/tools/gap-analysis/
     
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