SWOT Analysis: This framework helps in identifying the strengths, weaknesses, opportunities, and threats related to your business and competitors. PEST Analysis: This tool analyzes the political, economic, social, and technological factors affecting your industry, providing a broader context for your competitive analysis. Benchmarking: This involves comparing your business performance against industry standards or specific competitors to identify areas for improvement. Porter’s Five Forces: This model evaluates the competitive forces within an industry, helping leaders understand the intensity of competition and the profitability potential.