GAP ANALYSIS Meaning and
Definition
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Gap analysis is a strategic management tool that entails the process of comparing the actual performance of a business or organization with its desired or expected performance. It involves identifying and assessing the gaps or differences between the present state and the desired state, ultimately aiming to bridge these gaps and improve performance.
In the field of business management, gap analysis is commonly used to determine the areas where a company is falling short in meeting its goals or standards. It involves evaluating various aspects such as financial performance, operational efficiency, customer satisfaction, market share, or employee productivity. By analyzing these gaps, companies can identify their weaknesses, strengths, and areas for improvement, and accordingly develop strategies to close the gaps and achieve their desired objectives.
Gap analysis typically involves several steps, including defining the desired state or goals, assessing the current state or performance, identifying the gaps or differences, analyzing the causes of these gaps, and creating an action plan to bridge the gaps. This process enables organizations to establish benchmarks, measure progress, and make informed decisions to enhance their performance and effectiveness.
Gap analysis can be conducted in various contexts, such as in marketing, finance, human resources, technology, or environmental sustainability. It is an essential tool for businesses and organizations seeking to improve and optimize their overall performance, identify areas of opportunity or weakness, and align their strategies with their objectives.
Common Misspellings for GAP ANALYSIS
- fap analysis
- vap analysis
- bap analysis
- hap analysis
- yap analysis
- tap analysis
- gzp analysis
- gsp analysis
- gwp analysis
- gqp analysis
- gao analysis
- gal analysis
- ga- analysis
- ga0 analysis
- gap znalysis
- gap snalysis
- gap wnalysis
- gap qnalysis
- gap abalysis
- gap amalysis
Etymology of GAP ANALYSIS
The word "gap" derived from the Old Norse word "Gapa", which means "to yawn" or "open". It entered Middle English as "gapen" with the same meaning, and over time, "gap" came to refer to a space or opening between two objects or concepts.
"Analysis" originated from the Greek word "analusis", which means "a breaking up" or "loosening". It entered English through Latin and originally referred to the process of breaking down a substance into its constituent parts to understand its nature.
When combined, "gap analysis" refers to the method of examining and identifying the discrepancies or "gaps" between the current state of affairs and the desired or optimal state. This term is commonly used in various fields such as business, economics, and project management.
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